Titan Co sees jewellery segment revenue grow 26% year-on-year in FY25 Q2
Tue Oct 15 2024
Tata Group business Titan Company Limited reported a 26% year on year increase in its jewellery segment revenue in the second quarter of the 2025 financial year due in part to a reduction in customs duty on gold imports from 15% to 6%.
Titan Co reported a significant increase in consumer demand for gold jewellery thanks to the gold import duty reduction, the Gem and Jewellery Export Promotion Council reported on its website. The business noted a significant increase in domestic gold jewellery sales, with the highest demand seen in its non-solitaire studded jewellery segment.
However, Titan Co’s solitaire segment experienced some challenges fuelled by uncertainty over pricing and evolving supply and demand dynamics in the global market, influenced by geopolitical movements. The business thus saw growth in its studded jewellery segment remain in the low double-digits.
Titan Co launched a number of new jewellery collections during the second quarter of the 2025 financial year. The business also undertook marketing campaigns and promotions which it noted helped to contribute to 11% growth in buyers and secondary sales growth. Continuing to expand its offline footprint, Titan Co opened a total of 24 jewellery stores during the quarter for its various brands.
Titan Co’s jewellery labels include Tanishq, Zoya, Mia by Tanishq, CaratLand, and Shaya by CaratLane, according to its website. The business’ other segments include watches, precision engineering, and eyewear, India Infoline reported.
Source: https://in.fashionnetwork.com/