Titan's 26% Surge in Jewelry Sales
January 09, 25
(IDEX Online) - Titan reported a 26 per cent surge in jewelry sales during the last three months of 2024, fueled by "robust consumer traction during Diwali".
The company, which has almost 3,000 stores across India, saw stronger growth in jewelry than its other segments - watches and wearables (+15 per cent); eyecare (+18 per cent) and emerging businesses (+5 per cent). Overall the company saw growth of 24 per cent.
Titan, part of Tata Group, the country's largest conglomerate, provides percentage increases but does not disclose actual revenues.
Titan, which includes the Tanishq, Rivaah, Mirayah, Mia, Aveer and CaratLane brands, said it had enjoyed "high single-digit buyer growth along with double-digit ticket size growth" during Q3FY25.
Plain gold sales saw particularly strong momentum, it said, as gold price surged to record highs, and gold coin sales were up 48 per cent, largely as investment vehicle, but also because of the Dhanteras festival.
Titan said it opened 26 news jewelry stores during the quarter, up to 749.
Pic courtesy Tanishq.