The cash prices in cash jumped 16.4% during the quarter, investors, investors sought to refuge in global economic uncertainties, which leads to an increase in the average size of tickets which compensate for a slight decrease in the number of buyers.
The jewelry segment, which represents almost 90% of Titan’s overall income, continued to operate strongly. Clutched jewelry of Tanishq, MIA and Zoya brands have recorded growth rates in mid-tender, exceeding the expansion observed in ordinary gold jewelry.
Meanwhile, the Golden Parts of Investment Quality maintained a solid demand while Indian consumers turned into ingots as a reserve of value. However, the company noted that the growing preference for parts, which has lower beneficiary margins compared to jewelry, has a somewhat limited expansion of margin in the latter quarters.
Early festive demand and aggressive consumer promotions have further supported the momentum of sales during the quarter.
Titan has expanded its retail footprint of jewelry by adding 34 new stores, bringing the total to 1,120 points of sale. A culmination key was the launch of “Rivaah”, the first dedicated wedding destination store from Tanishq to Delhi, aimed at the Premium bride market.
Titan’s wider consumption activities have increased by 20% in annual sliding, with the national segment up 18% and the 86% arrow segment, pulled by high performance in the American markets and GCC. In all divisions, the company added 55 new net stores during the quarter, passing the overall number of stores to 3,377.
The watches division displayed an increase of 12%, led by solid sales in the analog segment, while the Smart Wearable clothing segment continued to cope with challenges, down 23%. Eyecare increased by 9%, powered by international brands and electronic commercial channels.
Emerging companies have also demonstrated strong growth, with perhaps 48% increases and female bags increasing by 90%, reflecting a successful expansion of the network and increasing demand for consumers.
Internationally, Titan has doubled its activities on the American market and has opened a new store in Virginia, highlighting its global ambitions.
Note: the closest rounded growth percentages; Measures exclude ingots and sales of Digi-Gold.
At the end of the exchanges on Tuesday, Titan’s actions settled at ₹3,418.20 on the NSE, slightly down 0.21%. An update year, the action has won just over 5%, while its one month return is at a negative level of 7%.
