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  5. Titan Q3 update: Jewellery segment grows 26% YoY on strong festive demand; CaratLane surges 25%

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Titan Q3 update: Jewellery segment grows 26% YoY on strong festive demand; CaratLane surges 25%

Upstox
By Upstox News Desk

2 min read | Updated on January 06, 2025, 11:28 IST

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SUMMARY

Titan Company said its jewellery (domestic) grew around 25% YoY, buoyed by strong festive demand. Robust consumer traction during ‘Diwali’ translated into high single-digit buyer growth along with double-digit ticket size growth.

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TITAN
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Total income came in at ₹14,656 crore, up 15.8% YoY from ₹12,653 crore in the September 2023 quarter.

Total income came in at ₹14,656 crore, up 15.8% YoY from ₹12,653 crore in the September 2023 quarter.

Titan Q3 update: Titan Company, the lifestyle giant, on Monday, January 6, shared its Q3 business update.

The company said its standalone revenue registered a growth of around 24% YoY in Q3FY25. Titan’s combined retail network presence (including CaratLane and International) expanded by 69 stores (net) in the quarter to reach 3,240 stores.

Segment-wise, its jewellery business grew 26% year-on-year (YoY), while the watches & wearables business saw a jump of 15%. EyeCare business saw an increase of 18% YoY while emerging businesses saw a growth of 5% YoY.

Further, CaratLane saw a growth of 25% YoY.

As regards the jewellery business, Titan Company said its jewellery (domestic) grew around 25% YoY, buoyed by strong festive demand. Robust consumer traction during ‘Diwali’ translated into high single-digit buyer growth along with double-digit ticket size growth. Gold (plain) exhibited particularly strong momentum, growing around 24% YoY, benefiting from increased gold prices and festive and wedding purchases. Notably, gold coin sales grew around 48% YoY, reflecting consumer preference for gold as an investment avenue and customary purchases during the festive occasion of ‘Dhanteras,’ it added.
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Of the 24 new store additions (net) in India, 11 stores were added in Tanishq and 13 stores were added in Mia.

The Watches & Wearables division added 23 new stores in the quarter, comprising 12 stores in Titan World, 10 in Helios, and 1 in Fastrack, respectively.

EyeCare (domestic) clocked a healthy growth of nearly 17% YoY, led by retail and e-commerce, both on revenue and buyers. International brands and affordable fashion contributed well to the overall product mix. Titan Eye+ closed three stores (net) in India during the quarter.

"Caratlane grew c. 25% YoY, driven by a strong c. 26% YoY growth in the studded portfolio. Buyers grew c. 8% YoY, and L2L growths clocked a healthy c. 16% YoY. The brand added its first international store in New Jersey, USA, in the quarter. A total of 19 domestic stores (net) were added in this period, expanding the India presence to 305 stores," the press release added.

Shares of the company were trading nearly 1% higher at ₹3,480.85 apiece on the BSE.

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