Tata Group's Titan Company Ltd recorded a revenue growth of 20 per cent Y-o-Y in the Q1 FY24. A total of 68 stores were added during the quarter taking the retail presence to 2,778 stores, as per media reports.
The Jewellery division, delivered a satisfactory performance growing 21 per cent Y-o-Y in Q1 FY24.
"Despite significant volatility in gold prices throughout the quarter, Akshaya Tritiya sales in April and wedding purchases in June were robust. The key categories of gold and studded grew well with no notable change in the overall product mix. New store additions, Golden Harvest and exchange programs continued to do well during the quarter," the company mentioned.
Watches & wearables division's 13 per cent YoY growth comprised of 8 per cent growth in analog watches segment and 84 per cent YoY growth in wearables.
"Brand Titan and international brands saw strong buying momentum clocking handsome doubledigit growths," Titan mentioned.
Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough & Polished
