Indian jewellery company Titan reported a 17% growth in revenue in the fourth quarter of the 2024 financial year amid improved customer throughput.
Sales for the jewellery segment grew 18% year on year for the three months ending March 31, the company reported, while its watches sales were up 6% during the same period.
Domestic jewellery sales in India grew 19% year on year.
A total of 86 new stores were added to Titan's retail network in the quarter, including 11 Tanishq outlets and 16 Mia locations, for a total of 3,035 stores across the board. Titan opened two new international Tanishq stores in the quarter, in Dubai and the US, it noted.
The increase in revenue was attributed to the growth in both new and repeat buyers. Final sales and revenue data will be published in the coming weeks.
Theodor Lisovoy, Editor in Chief of the European bureau, Rough&Polished
