Titan has signed a binding agreement with Spain’s Valfamily S.L. and Switzerland’s Maison Favre Leuba, S.A. for the acquisition for Favre Leuba for ~INR138mn with no royalty charges. The transaction will give Titan the global rights to trademarks of this brand. We believe this strategic move will complement and strengthen the existing watches brand portfolio that includes Titan, Fastrack, Sonata, Nebula, Raga, Regalia, Octane and Xylys and contributing ~19% of total revenues.
With flattering brand equity in international markets including India, Favre Leuba offers fashionable watches under the Mercury collection and Baselworld Bathy V2 – a diving watch equipped with a mechanical depth gauge. It also boasts of three exclusive innovative technologies, namely “Embedded Running Indicator”, “Bi-directional/Crown Locking System” and the patented deployment buckle.
This acquisition is in line with the company’s plan to launch new watch collections to infuse fresh enthusiasm into the division. Titan’s previous launch, HTSE collection was well received with stores running out of stock.