Tata Group’s Titan Company has announced its quarterly update for the financial year 2021. After recording the best ever revenue in Q3, which was a festive season, the Company again recorded very strong revenues in Q4.
The jewellery division has emerged very strongly from the crisis and witnessed strong growth in the quarter making very good progress on recovery. The Company recorded strong revenue growth of 60% for the overall Q4 due to the low base of March '20, with revenue growth of over 36% in the comparable January & February months. Q4 reported revenue growth was further aided by a large B2B gold coin order that contributed ~8% of the growth.
For the International Business Division, the performance of its Dubai Boutique has exceeded the internal expectations and all the retail metrics are quite healthy.
The jewellery division continued to see strong sales momentum in Q4, reflecting the strong market share gains. The sharp decline in gold prices during the quarter also gave impetus to the consumer demand for the industry.
Wedding jewellery has been a strong growth driver for the year and its share in overall jewellery revenue has increased meaningfully, compared to last year.
Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough&Polished
Exclusive
Helga Pombal: Angola's Stardiam finds solution to the threat posed by lab-grown diamonds
Stardiam manager of production Helga Pombal told Rough&Polished's Mathew Nyaungwa on the sidelines of the Angola International Diamond Conference that lab-grown diamonds are creating a parallel market for more accessible stones, combined with lower...
11 november 2024
Ellah Muchemwa: ADPA to launch Africa's first diamond mining standard next year
The African Diamond Producers Association (ADPA), which is based in Luanda, Angola, and represents the interests of mainly African diamond producers and those with the potential to produce diamonds, will next year launch the Sustainable Development...
04 november 2024
Dmitry Fedorov: I want our jewelry to be displayed at a museum in the future
Dmitry Fedorov is the founder of the eponymous jewelry house. His main focus is the creation of Orthodox-inspired premium luxury jewelry of high artistic merit. He told Rough&Polished about his journey in the jewelry industry, about choosing the ‘Orthodox...
28 october 2024
Responsible business practices ‘no longer optional’, says WDC President Feriel Zerouki
The president of the World Diamond Council takes time out of her busy schedule to tell Rough&Polished readers about the critical work of the WDC. Zerouki, the first female present of the body, which includes all the important industry organizations among...
14 october 2024
James Campbell: Botswana Diamonds optimistic as it enters uncharted territory of using AI for mineral exploration
London-listed Botswana Diamonds has expressed optimism about the company’s use of artificial intelligence (AI) to scan the exploration database in Botswana to look for new mineralised deposits. Company managing director James Campbell told Rough...
07 october 2024
