Titan Company MD C K Venkataraman on his 'sparkling' journey with Tanishq

Venkataraman, who has steered Tanishq for nearly two decades, shares with Aneeka Chatterjee the joys and challenges of the journey

“Can I tempt you to vegan food?” asks C K Venkataraman, the 63-year-old managing director of Titan Company. For someone like me, who relishes non-vegetarian food, this calls for a leap of faith. I decide to go for it.

He suggests Vegan Vogue, a family favourite in Indiranagar, Bengaluru, the city that has been his home since 1985. We meet on a breezy Wednesday afternoon. Dressed in a white Titan 365 T-shirt and blue jeans, with black-rimmed glasses that lend an air of sophistication to the casual look, he has just flown in from Mumbai, but appears relaxed despite the travel. I can’t identify the make of his jeans, but they might well be Levi’s, the brand he swears by and nearly joined some two decades ago to head its India business before Xerxes Desai, Titan’s founding managing director, convinced him to stay back.
 

It’s rare for a company head to write a book about it while still in office. Venkataraman has, with The Tanishq Story (Juggernaut), which delves into his journey with Titan’s jewellery division, providing an insider’s view of the brand’s evolution and the office friendships that shaped it.
 

Tanishq has been a jewel in the Titan crown for a while now, accounting for over three-fourths of its revenue. In the April-June 2024 quarter, it reported 9 per cent growth in the domestic market and added 34 stores.
 

This year marks the 30th anniversary of Tanishq – a name that comes from tan (for body) and nishk (for gold ornament). Headquartered in Bengaluru, Tanishq now has over 450 stores, including in the United Arab Emirates, the United States, Singapore, and Qatar, competing against industry giants like Cartier globally and the Kalyan Group back home.
 

As we settle into our seats at the restaurant that is known for its chic interiors and plant-based cuisine, we are served zucchini fritters — deep-fried patties made of grated zucchini, cashew paste, and vegan cheese, coated in potato starch. The dish melts smoothly in the mouth. Next comes the veggie delight pizza, a thin crust topped with olives, zucchini, broccoli, baby corn, and vegan mozzarella, fresh from the oven, the cheese hot and melting. Paired with fresh orange juice, it perfectly balances salt and sweet. As soon as the dishes are laid out, Venkataraman begins to share his story.
 

He sketches the arc of his life with remarkable brevity. Born and raised in Coimbatore, Tamil Nadu, he stayed there until graduation. His career began with the Sarabhai Group, a pharmaceutical major, in Mumbai in 1981.
 

A thirst for knowledge took him back to school for an MBA, after which he relocated to Bengaluru. There, he honed his skills at two advertising agencies before joining Titan in 1990 as an advertising manager for the watches division. Four years later, Tanishq was born, and in 2005, he was chosen to head it. Venkataraman’s eyes sparkle with nostalgia as he reminisces about his journey with Tanishq. He vividly recalls the overwhelming moment he was appointed head of the jewellery division, a role imbued with pride and responsibility. Yet, the path was fraught with challenges.
 

He recounts the tense memories of the regulatory hurdles that surfaced during 2013-14: the abrupt halt of gold imports and the abolition of the popular Golden Harvest Scheme. The Golden Harvest jewellery purchase programme would allow customers to pay in equal instalments for 11 months, with Tanishq adding the final instalment, enabling larger jewellery purchases, especially during significant events like Dhanteras and Akshaya Tritiya.
 

Then came the chaos of demonetisation in 2016, and four years later, the blow of Covid-19. 
 

“During lockdowns, while attending virtual meetings and awaiting sales, we remained calm,” he says. “I was confident that the jewellery industry would rebound first, since people buy jewellery for security and happiness in all times.”
 

Amidst these trials came good news — the announcement of his appointment as the Titan Group MD effective October 1, 2019. Meeting Ratan N Tata in the boardroom was the icing on the cake.
 

It is good to see his infectious smile return as he recalls the happy memories. “Every collection launch was an exciting time,” he says. “I vividly remember those days when Sandeep Gulati, a senior colleague, and I would find ourselves at odds with Revathi Kant, our chief design officer. Year after year, she passionately advocated for a gold jewellery collection for Diwali, but we consistently rejected her proposals, insisting that we needed diamond jewellery instead since it was more profitable.”
 

Cut to 2015, Divyam was launched — the first gold collection for Diwali. “Divyam was such a blockbuster.” The ad announcing its launch featured Tanishq brand ambassador Deepika Padukone and her parents, the three appearing on the screen together for the first time.
 

Venkataraman is also full of praise for Desai. “Working with Desai was a revelation. His good humour and light touch made collaboration easy, especially with young people.” His book has a good deal about his relationship with Desai. “His exceptional taste and focus on design and quality taught us the importance of high standards and appreciating finer things.”
 

As someone who rose from the ranks, Venkataraman has had the opportunity to work closely with many influential figures in Tanishq, each imparting invaluable lessons and shaping his professional ethos.
 

Jacob Kurian, the former chief operating officer, was initially someone he feared and hesitated to work with. “I found myself hesitant to collaborate with Jacob,” he says. But there were lessons to be learnt from him. “His relentless focus on time’s value taught me to approach tasks with unwavering attention. Jacob embodied punctuality, simplicity, and focus.”

He emphasises how Titan has evolved from a single-product brand to a multi-segment one, with manufacturing plants across India. “We were some 500 people; now we are about 8,000. Titan has become more profit-conscious over the years. At present, there is a more research-based approach to the businesses.”
 

Next year, on December 31, Venkataraman will retire after having steered Tanishq through two critical decades. What will life be like for a man who has constantly been on the move? He smiles, again. Turns out, Venkataraman has a full life both in and out of office.
 

An avid singer, he dedicates 4-5 days weekly to practice, alongside yoga, running, and cycling. His wife joins him for cycling outings. Saturdays are for running. Weekends are reserved for culinary experiments and discovering new eateries. He is also an admirer of Dev Anand, Shammi Kapoor, Mohammad Rafi, and Kishore Kumar, whose Bengali song, Sei raate raat chhilo purnima, he enjoys singing.
 

So, retirement will mean having more time to indulge in his passions: cooking Tamil specialities, exploring new destinations, cycling, and cherishing moments with loved ones. 
 

“Embracing passion fuels success,” he says. “Love what you do, excel in it,” he advocates to young recruits. Such dedication, he says, not only garners recognition within the organisation but also paves the path to the summit. 
 

The conversation turns to my hometown, Asansol in West Bengal, and jhaal-muri (spicy puffed rice), which he likes snacking on. He recalls his 2017 visit for a store inspection, where he was welcomed with a Rabindra Sangeet dance performance.

“I want to see Titan dominate each category it operates in and become a global brand,” says Venkataraman when I ask where he envisions the brand 10 years from now, long after he has stepped down. 
 

After our hour-long lunch, as we approach the exit, I get a glimpse of a violet scooter parked right outside. “For someone who has been cycling all his life, a scooter is the easiest mode of transportation, even in a busy city like Bengaluru,” he says, smiling at my surprise.
 

In the concluding paragraph of The Tanishq Story, Venkataraman writes: “The most magical aspect of the last twenty years of my life has been the opportunity to be in these trenches frequently. The passion, energy, enthusiasm, and commitment of the store staff, the franchisees, the field operations teams, the vendor partners, and the karigars have been a source of limitless energy, everlasting joy, and absolute faith for me, making me a much, much better person than who I was in 2004 before I entered the world of Tanishq.”
 

“It is all those people that I will sorely miss,” he says, “not the title, not the power, not the trappings, when I hang up my boots next year.”