They are targeting a 10 percent market share overall, which will require them to grow at 20-25 percent annually every year, said Bhaskar Bhat, MD, Titan.
The Nirav Modi scam has hit the gems and jewellery segment as bankers have become reluctant to give funds to the sector and all Letter of undertakings (LOUs) have been put on hold.
In an interview with CNBC-TV18, Subbu Subramaniam, CFO of Titan spoke about the results and his outlook for the company.
The Cabinet on Wednesday allowed 100 percent foreign direct investment (FDI) under the automatic route for single-brand retail. To discuss in detail what would be the positive impact of the above development on ground for the retail companies CNBC-TV18 spoke to Rakesh Biyani, Joint MD, Future Retail, J Suresh, MD and CEO, Arvind Lifestyle Brands and to know the impact on their growth and stock prices, they spoke to Abneesh Roy, Senior VP, Edelweiss Securities.
In his first interview after being appointed to the Tata Sons board, Tata group veteran Bhaskar Bhat says that the group's focus will be to increase collaboration between companies and scale up businesses to leadership positions. Speaking exclusively to CNBC-TV18's Priya Sheth, Bhaskar Bhat who is also the MD at Titan Company says that that the company aims to hit USD 5 billion in revenue by 2025.
Trend towards consumer discretionary spend is increasing. I don’t think gold will be out of fashion for quite some time in India, said S Subramaniam, CFO of Titan.
Ajanta Pharma retains the tag of fastest wealth creator for the third time in a row and Asian Paints is the most consistent wealth creator, said the wealth creation study
In an interview to CNBC-TV18, S Subramaniam, CFO, Titan Company spoke about the results and his outlook for the company.
Titan Company has been on a tear with nearly 100 percent gain so far this year. In an interview to CNBC-TV18, Bhaskar Bhat, MD of the company spoke about the latest happenings and his outlook going ahead.
Titan Company sparkles in Q1 as revenue jumps led by strong jewellery business performance boosted by strong Akshaya Tritiya sales. In an interview to CNBC-TV18, S Subramaniam, CFO of Titan Company spoke about the results and his outlook for the company.
Jewellery companies are in focus as the government has lowered the cap on cash transactions from Rs 3 lakh to Rs 2 lakh.
Speaking to CNBC-TV18, Bhaskar Bhat, Managing Director of Titan Company, said the sales of watches and jewellery could have been much better had demonetisation not taken place.
Sales of both jewellery and watches over the last one week has returned to the levels seen for the same period before demonetisation was announced, says S Subramaniam, CFO, Titan Company.
There is expected to be a slowdown in the market and a short term disruption due to the ban and the US elections with a Donald Trump win likely.
There has been a significant decline in the jewellery industry and it is important to factor that in, says S Subramanian, CFO, Titan. In spite of gold industry‘s slowdown Titan saw a good quarter.
The partnership is to expand its luxury brands segment by adding another chain, which will be called Ethos, said S Ravikant, CEO of Titan.
Demand for gold continues to be muted, but clear growth for diamond studded products is visible for Titan, says the company‘s CEO S Subramaniam. Demand is a concern across the industry.
While domestic sales for Titan were robust, exports and after sales services impacted the business in quarter gone-by, says S Subramaniam, CFO of the company. Domestic sales for the company grew 11 percent in Q1.
After the company posted its fourth quarter earnings, Titan said it is targeting 15 percent plus growth in fiscal year 2017.
Recently acquired CaratLane, the leader in online jewellery segment, is expected to drive the company's growth significantly, says S Subramaniam, CFO of Titan Company.
Although the industry is not happy that the excise duty has not been rolled back, Sanjeev Agarwal, chief of Gitanjali Export Corporation, is relieved that jewellers are back in business.
Fourth quarter performance will be impacted by industry strike and also by the move to make PAN cards mandatory on all jewellery transactions of Rs 2 lakh and above, says S Subramaniam, CFO of Titan
Speaking to CNBC-TV18, Titan's Bhaskar Bhat said that the 1 percent excise duty levied on jewellery articles will widen the gap between the unorganized industry as the latter does not have to bear this additional duty.
S Subramanian, CFO of Titan says gold jewellery segment is doing well and foresees positive growth from hereon.
S Subramanian, Chief Financial Officer, Titan, says the capex in the joint venture will not be high enough to impact earnings in the short term