Titan created a startup initiative within Titan and launched a program called Ignitor, to encourage teams to come up with ideas for the future.
And we published what we called Titan’s Hexagon: There are six elements that ought to be considered for selecting a business to pursue.
- It must be an unorganized, not regulated category;
- It must be a personal product;
- The category must be amenable to branding;
- Design should be an important element in the purchase consideration;
- Cost should not be an important driver; and
- The category should not be intensively competitive.
We will never enter the mobile phone business, for example. [Bhaskar Bhat, the now-retired head of Titan brand].