Bangalore: Titan Industries has wound up its European operations after incurring losses of Rs110 crore in the continent during the last decade. Titan had entered 12 countries in Europe in the early '90s and exited in December 2006.
The company made losses throughout the 1990s and, in 2004 and withdrew from eight of these countries. Following this, it was present only in Britain, Spain, Greece and Portugal.
Since December 2006, it has ended its European operations completely, except for selling the Titan Edge watches in a small territory through an old distributor.
The company was chiefly not able to compete with the popularity of the Swiss and the Japanese watches in those markets and also could not popularise the brand as it did not spend enough time and money on advertising the brand in Europe.