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3h ago

Titan Posts 20% Q2 Consumer Growth, Adds 55 Stores

Strengthened old-gold exchange programmes are cushioning demand pressure from record bullion prices by shifting purchases toward higher-ticket trade-ins.

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Overview

  • Titan reported 20% growth in its consumer business for the quarter ended September, according to its exchange filing.
  • The jewellery division grew about 19% in the domestic market, with studded pieces outpacing plain gold as buyer counts slipped marginally but average ticket sizes rose.
  • Old-gold exchanges now contribute roughly 38–40% of Tanishq sales since Navratri, and the company expects about 50% by the end of Diwali.
  • The retailer added 55 net stores to reach 3,377 outlets, including 34 jewellery stores, while international revenue rose 86% with Tanishq more than doubling its US business and posting strong GCC growth.
  • Watches and wearables domestic sales increased 12% with analogue up 17% and smart wearables down 23%, CaratLane grew around 30%, and gold coin demand stayed firm as prices hit a record Rs 1,20,900 per 10 g.