Watches and jewellery, both fashion accessories, saw a lot of demand in the festive season last year. Tata Group’s jewellery and fashion accessories retail company Titan has benefited from this. The company’s business has seen tremendous growth in the October-December quarter.
The business of this Tata Group company, which manufactures watches under the name Titan and jewellery under the name Tanishq, has grown by 12 per cent on a single basis in the last quarter. The company has shared information about the financial data for the third quarter of 2022-23.
The Company Opened 111 New Stores.
Titan opened 111 new stores in the October-December quarter. In this way, the number of its total stores has now increased to 2,362. The company says that due to the positive attitude of the consumer, business growth in all its categories has been in double digits, and this is when the company’s business growth was good last year as well.
Double-Digit Growth Of Watches, Jewellery
During this period, the growth of only the jewellery business of the company has been 11 per cent. The jewellery business accounts for about two-thirds of Titan’s total income. While the company’s growth in the watches and wearable segment has been 14 per cent.
Tanishq Opens International Stores
Titan is gradually expanding its business abroad as well. In December 2022, the company opened Tanishq’s first international boutique in New Jersey, USA. With this, now the number of international stores of the company has increased to 6. The company also has stores in Dubai and Abu Dhabi. At the same time, the company has opened 8 Tanishq stores and 14 ‘Mia by Tanishq’ stores this quarter.
Titan Eye+ Doing Great Business
The company said that the growth of its Titan Eye + store and trade has also been like the rest of the business. The company has added 36 new stores to its Titan i+ store count. At the same time, the company also does business in the fashion and fragrance segments. Its growth in this segment has been 39 per cent. In this, 50 per cent growth has been seen in the fragrance, i.e. perfume segment and 21 per cent in fashion accessories.
The company’s Indian dress business Taneria has grown by 150 per cent during this period.
