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Titan Q3 update | Jewellery segment grows 37% YoY, wearables revenue up on bouyant festive demand

Witnessing a surge in its revenues through consumer businesses by around 36 percent year-on-year (YoY), Titan Company registered positive business numbers for the festive period in October-December 2021.

The jewellery ticket size was also 15 percent higher, as compared to the pre-pandemic era. While its revenue from the jewellery segment between October-December surged by 37 percent YoY, the watches and wearables revenue sector grew by 28 percent YoY. Its eye-wear segment also saw a growth of about 27 percent YoY.

Ticket sizes for Tanishq, the jewellery brand and a division of Titan Company, were over 15 percent higher than pre-pandemic levels, the company said in its Q3 business update on January 6.

Popular physical and online jewellery retailer CaratLane, in which Titan holds around 72.3 percent stake, also registered a growth of 64 percent YoY, it added.

With the jewellery demand staying buoyant between October and November, where the country celebrated festivals like Diwali, Dhanteras and more, Titan added 89 new stores over the last quarter, taking the total store count to 1,935.

Out of this, the jewellery segment lodged 408 stores, watches and wearables saw 809 stores, the eyewear sector saw 682 stores and other businesses registered 16 stores. CaratLane also added 6 stores to its repertoire, taking its total count to 129.

Courtesy: Money Control