Business

Titan seals strategic pact with FTS USA

Titan Company Limited, one of the world’s largest watch manufacturers, has entered into a strategic alliance with an American watch manufacturing company FTS USA LLC located at Phoenix, Arizona.

This alliance equips FTS USA by setting up a quartz movement assembly unit in the U.S. to manufacture ‘Made in USA’ for American watch brands, said the company in a statement.

It added that Titan would further extend its support by supplying movement kits and setting up of the movement assembly facility, training of U.S. engineers at the Titan facility alongside Titan’s engineers visiting the facility.

Portfolio review

Commenting on the alliance, S. Ravi Kant, CEO, watches and accessories, Titan Company Limited, said, “This alliance with FTS signifies Titan’s three-decade long expertise and passion for watch making. With the advent of smart watches in the world market, traditional watch manufacturers are facing the heat to relook at their portfolio.

“However, the opportunity for growing the traditional watch market through differentiated designs and superior quality still exists. We are happy to support FTS in helping them revive the American watch manufacturing industry.”

Titan Company designs and manufactures 16 million watches and movements a year.

Nearly all large-scale watch making for U.S. market is done outside the U.S. These include countries ranging from the traditional manufacturing hub of Switzerland to China, Japan, Philippines and India.

Through this alliance, FTS sees an opportunity to make more classic watches and movements. The new facility will lead to higher quality, fewer shipment delays, and a better connect with U.S. customers. The facility at Fountain Hills, Phoenix was recently inaugurated with two operating assembly lines, the statement added.

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Printable version | Sep 29, 2020 11:14:33 AM | https://www.thehindu.com/business/titan-seals-strategic-pact-with-fts-usa/article26514998.ece

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