Titan's CaratLane jewellery line to debut in the US in FY25: Report

In the December quarter of FY24, total income for Jewellery segment increased by 23 percent to Rs 11,709 crores

Jewellery and watch retailer Titan will likely debut its CaratLane jewellery line in the US in FY25, said the company's managing director CK Venkataraman.

The company is looking to cater to rising demand from the Indian diaspora abroad, and Tanishq could open 40 stores overseas by the end of FY25, according to a report by Livemint.

“We have a target for it (international business) for the near term, but I'm not yet ready to share it in public. But by March 2025, we hope to have 40 Tanishq stores outside India. Considering that we had zero stores outside India till September of 2020, we are climbing, it's a scorching pace of growth (in international markets)," Venkataraman said in an interview.

Tanishq opened its first international store in Dubai's Meena Bazaar in October 2020 during the Covid-19 pandemic. The jewellery brand also launched its first store in New Jersey's Little India in January 2023.

“We are currently focusing on the Indian diaspora, which is substantially present in the Gulf Cooperation Council (GCC) countries—UAE, Oman, Qatar, Saudi, etc., apart from Singapore, the US, a few cities in Canada and a few cities in the UK and perhaps in Australia," Venkataraman added.

In the December quarter of FY24, Titan's total income for the Jewellery segment increased by 23 percent to Rs 11,709 crores, with the Indian business growing by 21 percent. The festive season witnessed robust double-digit buyer growth, supported by strategic programs amid high gold prices.