Titan Achieves 25% Revenue Growth in March Quarter Driven by Strong Jewellery Sales

Titan, a prominent jewellery and watch retailer, has announced a 25% increase in standalone revenue for the March quarter of FY25. The jewellery division, which makes up more than 75% of its revenue, saw a 24% rise in domestic sales, driven by higher gold prices. The Tata Group company noted that plain gold jewellery and coins grew by 27% and 65% year-on-year, respectively.

Representative image

Jewellery Division Drives Growth

The surge in gold prices led to a preference for gold as both adornment and investment. However, higher prices dampened demand at lower price points, resulting in single-digit growth in buyer numbers. Despite this, demand at higher price bands remained strong, leading to significant growth in ticket sizes. Titan concluded the fiscal year with a robust performance across key segments, achieving 25% year-on-year growth for the quarter and 21% for the financial year.

Expansion and Retail Network

During the January-March quarter, Titan expanded its retail presence by adding 72 stores, bringing its total network to 3,312 outlets. The Watches & Wearables (W&W) Division's domestic business grew by 20% year-on-year in Q4. Brands like Titan, Fastrack, and Sonata contributed to an 18% increase in analog watch sales. Key retail channels such as Helios, Titan World, and Fastrack experienced healthy double-digit growth.

Performance Across Divisions

The EyeCare Division's domestic revenue rose by 18% in the March quarter. In Emerging Businesses, Fragrances saw a 26% increase, while Fashion Accessories grew by 12%. However, Taneira, Titan's Indian Dresswear business, experienced a decline of 4% in sales.

"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.

Titan's overall performance highlights its ability to adapt to market conditions and consumer preferences. The company's focus on expanding its retail network and diversifying its product offerings has contributed to its sustained growth across various segments.