Leading jewellery and watchmaker Titan has recorded 12% growth in its standalone business in the December quarter, led by “healthy consumer demand” spurred by a vibrant festive season. ” The Tata group firm also continued network expansion by adding 111 stores in October-December, taking the total number to 2,362 at the end of the quarter.
During the quarter, Titan Jewellery, which generally contributes more than two-thirds of its revenue, achieved 11% Y-O-Y growth. ” Sales from the studded category moderately outpaced the gold jewellery (plain) segment. As part of its global expansion, Titan opened its first international boutique store of Tanishq in New Jersey, US in December 2022. ” Its ‘Watches & Wearables’ segment reported 14% growth Y-o-Y.
This was led by “strong traction” in the wearables space. ” In the eye care segment, the company said sales from Titan Eye+ stores and trade and distribution channel saw growth in-line with the overall division. ” EyeCare expanded its nationwide presence adding 36 new stores in Titan Eye+ (net) for the quarter,” it said. Fragrances and Fashion Accessories (F&FA) grew 39% Y-o-Y. This was driven by 50 per cent growth in fragrances and around 21% growth in fashion accessories, the update said. Its Indian dress wear business Taneira expanded by 150% Y-o-Y, driven by new store openings and healthy double-digit growth from existing stores. ”