Hedging strategy is aimed at protecting itself, not in playing the market
The ongoing spike in gold prices is a temporary phenomenon, which started only about ten days ago, said Titan Company Managing Director Bhaskar Bhat on Wednesday. The company was unlikely to be affected by the volatility in gold prices, Mr. Bhat said. Addressing the media at the launch of the company’s new corporate and brand identity, Mr. Bhat said, “Gold prices cannot be predicted, and we believe it will settle.”
Mr. Bhat said the company’s hedging strategy ensured that it did not suffer because of the volatility in gold prices. “Titan hedging strategy is aimed at protecting itself, not in playing the market,” Mr. Bhat said. He pointed out that the company had also benefited from the sharp drop in gold prices earlier this year.
Titan Industries unveiled a new corporate and brand identity. The company, which first started with watch manufacturing at its facility in Hosur (Tamil Nadu), but later ventured in to jewellery, eye care products and accessories, will now be known as Titan Company.
The MD said the new positioning, and the removal of “industries” from its name, reflected the company’s “consumer focus.” “From being a watch-maker, we became a lifestyle company and we now have the biggest footprint of any speciality retailer in India,” Mr. Bhat said.
Titan, Mr. Bhat said, would venture into new areas, especially in market segments dominated by “unorganised, under-served or underpenetrated.” “We will soon be entering the market for helmets,” he said.