Titan's Q1 Jewelry Sales Increase by 20%
July 13, 23
(IDEX Online) - Titan Company says revenue from its 559 jewelry stores - including Tanishq and CaratLane - was up by 21 per cent year-on-year in the three months to 30 June.
Watches and wearables saw a 13 per cent increase in sales, in over 1,000 outlets.
"Buyer growth was higher than average ticket size growth for this period," the company said in a quarterly update.
Titan, based in Bengaluru, India, and part of Tata Group, the country's largest conglomerate, said all its key consumer businesses (including eyecare, fragrances and fashion accessories) had experienced double digit growth during the quarter.
Overall revenue across all sectors was up by 20 per cent, year-on-year.
Sales were boosted by Akshaya Tritiya, the Hindu and Jain spring festival, and by wedding-related purchases in June.
The update provided percentage increases but not actual revenues.
Pic courtesy Tanishq