Gold prices hit fresh record highs on March 20 amid safe-haven buying as investors turned positive on exchange-traded funds due to recession fears in the US.
Two pistols, 10 cartridges, and two bags filled with stolen jewellery were recovered from the two robbers.
The store manager claimed that police did not respond on time despite multiple calls. Later, however, the police nabbed two robbers after a brief exchange of fire and seized two bags containing some of the robbed jewellery.
Last year, sales from exchange jewellery almost touched 50% by value, and 10-15% by volume. This has an investment value even for younger customers, said Titan Company’s jewellery division CEO Ajoy Chawla.
With a growing economy and a rising middle class segment, demand for ‘natural’ or mined diamond jewellery from Indian consumers has surged in recent times to 11 percent of global demand, Tata group firm said in the filing
These losses will be incurred because of inventory held by jewellers bought at price levels higher than the post-Budget announcement prices. However as per sector experts they are expected to be recovered in the long term aided by increased demand in response to lower prices.
The company is also planning to launch its exclusive ladies' handbag brand store 'IRTH' sometime later this year, Titan's Managing Director C K Venkataraman said
Titan MD CK Venkataram on his new book, The Tanishq Story; the mistakes Tanishq made when it launched in the 1990s; designing jewellery at a time when gold prices are skyrocketing; and his tips for Gen Z and Alpha generation workers.
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.
Major jewellers offer up to 20 percent off on gold and diamond jewellery, enticing customers for Dhanteras purchases
Currently, Titan has 13 boutiques in the international market and is constantly scouting for new sites to serve some 32 million global Indian diasporas, the CEO said.
In the jewellery division, Titan reported 19 percent same-store sales growth and 10-11 percent buyer growth per store
Titan's jewellery business grew 23 percent on-year, with 31 new stores being added during the quarter
From the sales growth of both companies vis-à-vis the competition, it’s evident that while Titan is holding its ground, Vedant has started to concede market share
Started in 1994, Tanishq struggled in the initial years. In fact, in 2000-01, Titan, the parent company, faced a loss of Rs 150 crore on account of Tanishq's poor performance. Then Titan MD Xerxes Desai implemented new strategies and then there was no looking back. But what were those strategies? Watch!
This is mainly attributed to the large presence of Indian Diaspora in the country, who are among the highest per-capita income, but also because of the interest in India, its culture and products among the Americans.
While Oak Tree Road has more than a dozen jewelry stores, mostly owned by Indian Americans, Menendez said the arrival of Tanishq at this popular Indian shopping destination is significant and different from others.
The maximum growth was recorded by Titan in its emerging businesses category, where sales shot up by 75 percent.
Since young women constitute a significant part of the demography and the target audience, several brands have been exploring and highlighting the problems faced by girls in India and offering solutions through their advertisements.
Last week, shares of Titan rose after the company reported strong growth in sales for the September quarter.
The Chozha collection is an ode to the Chola Dynasty with jewellery capturing the intricate details of the temple towers and also has inscriptions in Tamil language.
The scheme — Rivaah Aashirwaad Sovereign Saver — unveiled ahead of the wedding season, allows customers to avail discounts on making charges, Titan Company Ltd., manager (retail operations), jewellery division, Divjyot Kaur said.
The company, during its annual investor and analyst meeting, shared plans for various segments such as women’s ethnic wear and bags. It aims to reach the Indian diaspora through Tanishq.
Tanishq's Gold Coin ATM works like any other dispensing machine. Once customers select the desired grams of gold, the machine displays the amount to be paid. Once the payment is cleared, it pumps out the packaged gold coins.