Titan Achieves 9% Revenue Growth in Q1 FY25 Amid Diversified Expansion

Titan, a leading jewellery and watchmaker, reported a 9% standalone revenue growth in the first quarter of FY25. The Tata Group firm expanded its retail network by adding 61 stores. Its jewellery division grew 9%, while its Watches & Wearables division saw a 14% domestic growth. However, wearables faced a 6% decline.

On Friday, Titan, a prominent jewellery and watchmaker, declared a 9% standalone revenue growth for Q1 FY25, ending June 30, 2024. Managed by the Tata Group, Titan also expanded its retail network with 61 new stores, totaling 3,096 outlets.

The jewellery division, contributing over three-fourths of Titan's revenue, witnessed a 9% growth in the domestic market and added 34 new stores. Despite high gold prices and fewer wedding days affecting consumer demand, the division saw notable growth during the auspicious week of Akshaya Tritiya.

Moreover, the Watches & Wearables (W&W) Division experienced a 14% domestic business growth, driven by a 17% surge in the analogue watch segment, although the wearables segment declined by 6%. Customer preferences tilted towards premium products across Titan, Helios, Nebula, Edge, and Xylys channels. The division opened 17 new stores.

(Disclaimer: With inputs from agencies.)