Titan Shines Bright with 24% Growth Boosted by Festive Demand

Titan Company Ltd saw a substantial 24% year-on-year growth in Q3, driven by strong festive demand, especially in jewellery. The domestic jewellery segment rose 25% YoY. The company also expanded internationally, adding new Tanishq stores in Seattle and Dubai.

Titan Company Ltd, a Tata group enterprise, reported a remarkable 24% year-on-year growth on a standalone basis in the third quarter, fueled by robust festive demand, especially in the jewellery sector.

Within the domestic jewellery segment, a significant 25% YoY growth was observed, spurred by heightened consumer activity during Diwali, resulting in high single-digit buyer and double-digit ticket size growth. The performance was bolstered by plain gold, which saw a 24% increase, driven by rising gold prices and purchases for festive and wedding occasions.

Gold coin sales surged by 48% YoY, demonstrating a strong consumer inclination towards gold investments, particularly during 'Dhanteras'. Internationally, Tanishq expanded with new stores in Seattle and Dubai while adding 24 new stores domestically. The 'watches & wearables' and EyeCare segments grew by 13% and 17% respectively.

(With inputs from agencies.)