Titan Company Ltd. announced a 26% rise in jewellery revenue to Rs.10,763 crores for Q2 FY2024-25. The quarter saw an uptick in buyer interest across Titan’s jewellery brands, including Zoya, Tanishq, Mia and CaratLane, with total jewellery revenue in India climbing 25%, primarily driven by increased consumer demand following a Customs duty reduction on gold.
The company continued to strengthen its retail footprint, adding 11 new Tanishq stores, 12 Mia locations, and 1 Zoya showroom. CaratLane, Titan’s digital-first jewellery subsidiary, also reported 28% growth in revenue to Rs.829 crores, benefitting from targeted marketing campaigns that increased brand engagement. These expansions signal Titan’s commitment to capturing diverse market segments.
C.K. Venkataraman, Managing Director, Titan Co., said, “After a muted Q1, Q2 witnessed encouraging growth across key businesses. Jewellery clocked healthy double-digit growth for the quarter. Our portfolio approach in this business of straddling diverse customer needs through the brands of Tanishq, Mia, Zoya and Caratlane is working well. The buyer growth metrics were fairly strong and in good double-digits across gold and studded product categories.”
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