Its jewellery division, which contributes over three-fourths of the revenue, reported a 24 per cent growth in the domestic market on the back of a significant increase in gold prices.
However, sales of its Indian Dresswear business, Taneira, were lower by 4 per cent.
Leading jewellery retailer and watchmaker Titan has reported a 25 per cent growth in its standalone revenue in the March quarter of FY25.
Its jewellery division, which contributes over three-fourths of the revenue, reported a 24 per cent growth in the domestic market on the back of a significant increase in gold prices.
“Both plain (gold) jewellery at 27 per cent YoY and coins at 65 per cent YoY respectively, led this growth, reflecting high consumer preference for gold (adornment cum store of value),” the Tata group firm said.
However, elevated gold prices resulted in sluggish consumer demand at lower price points, leading to single-digit buyer growth, while demand at higher price bands was sustained, resulting in high double-digit growth in ticket sizes.
Overall, Titan “closed the fiscal year on a strong note, clocking robust performance across key business segments registering 25 per cent YoY growth for the quarter and 21 per cent for the financial year,” it said.
The Tata Group-managed firm added 72 stores during the January-March quarter, taking its combined retail network to 3,312 stores.
Its Watches & Wearables (W&W) Division’s domestic business recorded a 20 per cent growth on a YoY basis in Q4.
“Titan, Fastrack and Sonata propelled analog watches growth to 18 per cent YoY. All the key retail channels of Helios, Titan World and Fastrack grew in healthy double digits, with Helios channel registering the highest growth (relatively) reflecting consumer penchant for premium product offerings,” it said.
The domestic revenue from the EyeCare Division grew 18 per cent in the March quarter. In Emerging Businesses, Fragrances grew 26 per cent, and Fashion Accessories clocked 12 per cent.
However, sales of its Indian Dresswear business, Taneira, were lower by 4 per cent.
Source: www.moneycontrol.com