Titan Company announced strong performance for the October-December quarter of FY25, driven by strong consumer demand during the festive season. The company’s revenue grew by 24% YoY, with its jewellery, watches, and eyewear segments contributing to this growth.
The jewellery business, which forms 87% of Titan’s portfolio, saw a 26% YoY growth. This was fueled by festive purchases during Diwali and increased spending on weddings. Plain gold jewellery grew by 24%, benefiting from higher gold prices and seasonal buying. Gold coins recorded a 48% growth, reflecting increased consumer interest in gold as both an investment and a customary purchase during occasions like Dhanteras. Additionally, studded jewellery grew by 21%, marking its best quarter this financial year.
Titan expanded its jewellery network during the quarter, adding 24 stores in India. This included 11 new Tanishq stores and 13 Mia stores. Internationally, Tanishq opened one store each in Seattle, USA, and Dubai’s Gold Souk.
In the watches and wearables segment, Titan’s domestic business grew by 13% YoY. While the analog watches segment grew by 19%, wearables saw a decline of 20%. The company added 23 net new stores during the quarter, with most of the growth coming from Titan World, Helios, and Fastrack outlets.
The eyewear business also performed well, achieving 17% growth YoY. The growth was driven by both retail and e-commerce channels. Titan Eye+ added three net new stores in India during the quarter.
In its emerging businesses, Titan’s fragrances segment grew by 27%, while fashion accessories declined by 20%. Taneria, Titan’s ethnic wear brand, maintained flat growth compared to last year and added a new store in Salem, India.
Caratlane, Titan’s jewellery-focused subsidiary, posted 25% growth YoY, with the studded portfolio growing by 26%. The brand also made its international debut with a new store in New Jersey, USA, and added 19 domestic stores, expanding its network to 305 stores in India.
As a result of this strong quarterly update, Titan’s shares opened with a 1% gain on Monday, trading at ₹3,490. The company’s growth across key segments and continued expansion reflects its strong market position during the festive and wedding season.