Titan has successfully reinvented itself, moving from being a generational watch company to appealing strongly to younger audiences with new categories such as handbags. However, Karmarkar revealed that he has completely exited Titan. The main reason is the rise of lab-grown diamonds, which are chemically identical to natural diamonds, more environmentally friendly, and almost one-tenth the price. This trend could commoditise studded jewellery, putting pressure on Titan’s margins. While Titan remains a great company with excellent innovation and management, he believes the stock could stagnate for the next three to four years.