Tata Group company Titan, leading jewellery and watchmaker, has recorded 12 per cent growth in its standalone business in the December quarter.
As per the quarterly update by Titan for Q3 FY23, the positive consumer sentiment helped all categories record healthy double-digit growths.
Titan 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 per cent Y-O-Y growth. Higher-value purchases in the studded category and unique new collections for the season helped the division achieve an 11 per cent growth YoY. Studded jewelry outpaced plain gold jewelry and wedding sales grew in line with the division's overall sales.
Titan's 'Watches & Wearables' segment reported 14 per cent growth Y-o-Y. Eye care products and its Indian dress wear business Taneira expanded by 150 per cent Y-o-Y, driven by new store openings and healthy double-digit growth from existing stores.
Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough&Polished
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