Titan Q4 update: Revenue rises 17% YoY, firm adds 86 stores

Jewellery segment contributed significantly to the growth as its domestic operations surged 19 percent y-o-y

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Titan posted a revenue growth of 17 percent year-on-year (YoY) in the fourth quarter of FY24, the company said in a preliminary update on April 5.

It also added 86 stores during the quarter, taking the total strength across the country to 3,035 outlets, the update said.

Jewellery segment contributed significantly to the growth as its domestic operations surged 19 percent YoY led by “both buyers and same store sales clocking healthy double-digit growths”, the company said. The company further said that Tanishq added a new store in Dubai and Chicago and 27 in India in its jewellery division. Out of the 27 new stores added in India, 11 were under its Tanishq brand, while 16 were added in Mia.

The company also recorded a 7 percent YoY growth in watches and wearables segment. In this, the revenue from analog watches were 7 percent, while it was 2 percent for wearables. Its multi-brand premium watch store Helios saw the fastest growth in the analog watch segment with a healthy double-digit growth. For this segment, it added 44 new stores during the quarter with 10 stores in Titan World, 20 in Helios and 14 in Fastrack respectively, the firm said.

Moreover, the company said Caratlane's business grew 30 percent YoY. "Studded segment grew in-line with overall growth. Business added 10 new domestic stores (net) expanding the network presence to 272 stores," it said.