SPARKLING GROWTH FOR TITAN’S JEWELLERY SEGMENT, INTERNATIONAL EXPANSION ON CARDS

As per Titan’s Q4 results for FY23, the retailer’s growth is being led by its jewellery segment, as the wedding segment improves its performance. As per industry reports, the jewellery segment will grow around 18.5 percent, with a five-year revenue CAGR of 21.4 percent.

As per Q4 business update, the emerging business segment is anticipated to witness a significant 24 percent year-on-year growth, with Caratlane's sales expected to soar by 30 percent.

Industry experts note that despite fierce competition in jewellery, Titan is expected to maintain operating margin given competitive edge in design and sourcing and higher ticket size with further improvement in studded ratio.

Reportedly, the leading jewellery and watch retailer is also gearing up for big international expansion. It is set to debut its Carat Lane jewellery line in the US in FY25. This move follows the successful overseas launch of the Tanishq brand in 2020.Titan, the company seeks to cater to rising demand from the large Indian diaspora overseas, and Tanishq could end FY25 with 40 overseas stores.

Tanishq at present has established its presence in North America, GCC and Singapore. In the December 2023 quarter, the brand further expanded its international footprint by adding two new stores in the US, located in Houston and Dallas, along with one more store in Singapore.

The company's lightweight jewellery brand, Mia, has  also been introduced in Dubai, expanding Titan’s international jewellery store footprint to 14 outlets, which also includes the Zoya jewellery brand.

Titan’s jewellery division comprises brands like Tanishq, CaratLane, Zoya and Mia.