Varvara Dmitrieva: The jewelry industry of Yakutia is distinguished by its creativity, unique cultural code and conservation of traditions

Varvara Dmitrieva, Associate Professor and Head of the Department of Precious Stones and Metals Processing Technologies of the North-Eastern Federal University, told Rough&Polished about the results of the Forum of jewelry Craftsmanship and the prospects...

16 april 2024

Valery Budny: There is no strategy and legislation in Russia enabling the full cycle processing of precious raw materials within the country

Valery Budny, Head of the Jewelry Russia program and CEO of the JUNWEX media holding, told Rough&Polished about the results of the meeting and pressing issues in the precious metals and precious stones (PMPS) and the jewelry sectors.

11 april 2024

Paul Zimnisky: Natural diamonds face the risk of eroding their appeal if constantly discounted

New York-based independent diamond and jewellery analyst and consultant Paul Zimnisky told Rough & Polished’s Mathew Nyaungwa in an exclusive interview that the industry should do away with discounts. He said the industry should treat natural diamonds...

01 april 2024

Edahn Golan: Lab-grown diamond prices to continue declining

In an exclusive interview with Rough&Polished's Mathew Nyaungwa, Edahn Golan, proprietor of the eponymous Edahn Golan Diamond Research and Data, predicted that the prices of lab-grown diamonds would continue to decline, especially at the retail and...

25 march 2024

ADPA’s Ellah Muchemwa: G7 restrictions to bring extra costs from diamond mining to retail

The African Diamond Producers Association (ADPA), which has openly registered its disdain for the G7’s rough diamond trade restrictions, is of the opinion that the move will bring extra costs on all stages, from mining to retail. ADPA executive...

18 march 2024

Titan posts strong growth in jewellery segment in Q3

09 january 2024

Indian jeweller and watchmaker Titan Co Ltd said on 5 Jan 2024 that it registered a revenue growth of 22% year-on-year in the third quarter ended Dec. 31 as it saw double-digit growth in its jewellery business. Titan’s jewellery business alone had accounted for more than 85% of total income in the September quarter.

While Titan's overall jewellery business grew 23% y-o-y in the December quarter, it rose 21% year-on-year domestically, led by double-digit buyer growth and moderate improvement in average selling prices. The third quarter for fiscal 2023 coincided with festivals such as Dussehra in October and Diwali in November, when buying gold is considered auspicious. The quarter also sees more weddings, which is one of the biggest drivers of gold purchases in India.

Titan’s watches and wearables segment, which made up nearly 11% of the total income for the company in the previous quarter, saw a double-digit 21% year-on-year growth in the quarter. The growth in the analogue watch segment was driven by strong performances from Titan, Sonata, Helios, and other international brands.

Titan’s fashion and fragrances segment declined around 9%. However, its revenue in its premium fashion brand Taneira revenue grew by about 61%, with the addition of 11 new stores in different cities. Overall, Titan added 34 new stores in the quarter.

Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough & Polished