Leading watchmaker Titan has entered the wearable technology segment with the launch of its smartwatch Juxt and is introducing it in international markets including the US, the UK and Canada. Juxt is launched in collaboration with global technology giant HP, and Titan will sell the smartwatch in the international markets through HP's distribution network.
"We are selling Juxt in the US, the UK and Canada through HP's distribution network, and in the next one year we will launch it in five or six more countries outside India," Bhaskar Bhat, managing director of Titan Company said in Mumbai. The growth in the watches category across players has been challenging, he said, and with the launch of the new brand Titan hopes to bring new customers into the fold.
"This will help watches get back on wrists, and smartwatches will give a fillip to the watch business," he said. While the business model of Titan is not based on international forays, Bhat said that the initiative to sell it in international markets will bring good business for the company. The watch is available for prebooking on the company's e-commerce website, and on Myntra.
It will also be available across select World of Titan, Helios and large format stores, the company said. The watches will be priced between Rs 15,995 and Rs 19,995. The approximately Rs 5,000 crore watch market in the country has seen "single digit growth" in the past year. Market leader Titan has slowed down expansion and is "more cautious" with the number of new stores it opens, S Ravi Kant, chief executive of watches and accessories, Titan said.
Titan had said last year, that it would increase its presence in small towns, with 100 more outlets across its retail formats of World of Titan, Fastrack and Helios this fiscal.