Titan's April-June Sales Up 20% On Year; Jewellery Growth Slow

Titan Co. Ltd. said its overall sales grew 20% on year in the June quarter, matching the pace in the March quarter and doubling the 10% growth seen in the same period last year. Jewellery sales in India rose 18% on year, slowing from 23% growth in the March quarter, as high gold prices dented buyer sentiment between May and June.

Demand shifted towards lightweight and lower-karat gold products, while studded jewellery’s share in overall sales dipped. CaratLane sales surged 38%, while Tanishq, Mia, and Zoya together rose 17%. Watch sales rose 23%, EyeCare 12%, and emerging businesses grew 36%. International sales jumped 49% on year.

The company added 10 stores during the quarter, bringing its retail footprint to 3,322 outlets.