Company – Fastrack
Founder – Tata Group (Sub-part of Titan watches)
Fastrack is a popular watch brand in India focused on the new-age young population. Their designs are trendy, eye-catching, sometimes over-the-top, but always appealing to the “hip and happening” population. The brand is managed by the Tata Group and it is currently an independent company and has expanded their range in wallets, belts, bags and sunglasses category.
Fastrack was launched as a sub-brand under its flagship watch brand Titan Watches by the Tata Group in 1998. The idea was to create watches focused on the young generation with a modern and trendy look. To this effect, Fastrack got its own display space in the Titan Watch showrooms all over the country.
As the brand started to become popular among its target customers due to its modern designs yet affordable pricing, Fastrack broke away from Titan Industries and was re-established as a separate company in 2005.
Focused on the urban young population of the country, the brand became increasingly popular in the ensuing years and it has the distinction of being the most loved youth brand in fashion in the country.
The Success Story
The story of Fastrack’s road to gain its current popularity started with its launch in 1998. Watches were its primary product as Titan was already an established watch brand in India during the time.
Titan showrooms were present in almost all parts of the country and regular advertizing campaigns coupled with good quality product offerings had made the name ‘Titan’ synonymous with watches. To capitalize on this market presence and to appeal to the fast-developing economically independent youth population of the country, Tata envisioned its Fastrack range of watches.
To this effect, the brand was provided the required impetus through blanket media marketing and roping in famous youth icons as brand ambassadors from the acting and sports fields. The popularity of the brand began to grow steadily through the years to the point the management felt that the brand was popular enough to become an independent fashion label on its own.
Thus the re-launch of Fastrack happened in 2005 as an independent youth fashion brand. Even the designs of the watches were changed from being predominantly steel-based to a mix of fiber and plastic models. This further increased the brand’s likeability among the youth and Fastrack built upon this popularity with is foray into the sunglasses category. The brand also established its exclusive showroom in 2009 along with the launch of its fashion accessories range. The new categories were bags, belts and wallets aimed at fashionable young population of the country.
The brand has also positioned itself as a fashion choice which is both stylish yet affordable to the masses. Owing to the strong distribution network of the Tata Group, Fastrack was quickly able reach high degree of market penetration in a comparative short time span. It currently claims to hold market share of more than 50% in the youth watch category with being the forerunner in the digital smart watch space.
It was one of the first five brands to launch such a product in the world. So, the focus has always been to remain at the forefront of innovation with a variety of offerings to cater to the unique tastes of the millennial youth of India.
Marketing Campaigns and Strategies
At the heart of the success of the Fastrack brand is the concerted marketing efforts of the company along with trendy, affordable products to allure its target customer segment. It has always been primarily focused to become the fashion brand of choice for the young population of India.
Cool New Watches from Titan
The initial focus during Fastrack’s early days was to build upon the already established Titan brand. It ventured to carve its own niche in the watch market by appealing to the urban youth of the late teens to the early twenties age group. Thus the tagline emphasized the origin thus ensuring customers about the quality while highlighting its ‘hip’ status for the youth. The early designs were primarily steel-based looks which were subsequently changed to plastic and metal combinations based on the international success of such designs.
Are You on It
This television media campaign was launched to provide impetus to the new line of digital watches presented by Fastrack. It featured the famous youth icon racecar-driver Narain Karthikeyan urging the consumers to wear the trendy collection of watches. Such campaigns along combined with other forms of aggressive marketing and the brand’s presence in almost 100 cities of the country had the intended effect of popularizing it among the youth. But the long term plan of the management was to build up the individuality of the brand and position it as a major player in the youth fashion accessories segment.
Thus came the hugely popular “move on” advertising campaign by Fastrack. This media blitz as in conjunction with the re-launch of the brand as a separate company in 2005 and its position as a fashion product rather being just a trendy wristwatch. To this effect, sunglasses were also launched as an add-on fashion accessory for the urban youth segment.
Many popular celebrities like cricketer Virat Kohli, actors John Abraham and Genelia D’Souza were subsequently contracted to endorse the brand. By 2009, Fastrack launched its exclusive showroom and other fashion accessories like bags, belts and wallets to compliment its watches range. The tagline “move on” was meant to be a reflection of the modern youth’s psyche of detachment.
How many do You Have
The latest among its many advertisement campaigns, Fastrack titillates the possessiveness of its customers through this tagline. The idea is to present its latest range of “cool and trendy” fashion products and celebrate the free spirit of today’s youth who wants to enjoy life to the fullest yet has the capacity to own multiple fashion products.
Thus, Fastrack has been able to establish itself as the primary fashionable wrist wear choice of today’s Indian youth. It reflects in its more than 50% market share and its annual revenue of about 10 million dollars. The brand has a significant market presence through its 158 exclusive Fastrack stores and over 480 Titan World stores all over the country.
Even on various social media platforms, Fastrack has over 9 million followers on Facebook and over 1 million Twitter members. Fastrack has the roadmap and potential to grow more with its growing international online business and its policy of customer-centric innovation.