Titan sees revenue growing 36% in Q3, witnesses strong demand

Titan witnessed strong demand across its consumer businesses and clocked 36 per cent revenue growth over the festive quarter last year, the company said in the quarterly update.

The Tata-owned company’s jewellery business witnessed a 37 per cent growth year-on-year (excluding sale of bullion). It added 14 more stores taking its store count to 428.

“Buoyancy in jewellery demand driven by festive purchases in October and November helped the division achieve significant revenue uplift for the quarter,” the company said in its update.

During the quarter gone by, the company saw significantly higher walk-ins at its jewellery chain Tanishq. It also witnessed higher new buyer growth than its total buyer growth driven partly by Tanishq’s regionalisation strategy of winning in focus markets.

In the watches and wearables category, Titan saw 28 per cent growth compared to last year. It saw strong growth momentum with multi-brand channels mainly on the back of the Titan brand. The eyewear business grew by 27 per cent due to strong demand for sunglasses and frames and also buyers opting for international brands.

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