Titan sees revenue growing 36% in Q3, witnesses strong demand

Titan witnessed solid desire throughout its customer firms and clocked 36 for every cent income expansion more than the festive quarter last year, the corporation mentioned in the quarterly update.

The Tata-owned company’s jewellery business enterprise witnessed a 37 for every cent expansion year-on-year (excluding sale of bullion). It extra 14 extra stores having its store depend to 428.

“Buoyancy in jewellery desire driven by festive buys in Oct and November aided the division accomplish major income uplift for the quarter,” the corporation mentioned in its update.

For the duration of the quarter absent by, the corporation observed considerably greater walk-ins at its jewellery chain Tanishq. It also witnessed greater new consumer expansion than its full consumer expansion driven partly by Tanishq’s regionalisation tactic of successful in emphasis markets.

In the watches and wearables classification, Titan observed 28 for every cent expansion in comparison to last year. It observed solid expansion momentum with multi-model channels primarily on the back of the Titan model. The eyewear business enterprise grew by 27 for every cent thanks to solid desire for sun shades and frames and also purchasers opting for worldwide models.

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