During the Q4 FY25, the company’s jewellery business jumped 24% YoY on the back of significant increase in gold prices. Both plain (gold) jewellery and coins increased 27% YoY and 65% YoY, respectively, led this growth, reflecting high consumer preference for gold (adornment cum store of value). Studded jewellery registered low double-digit value (YoY) growth for the quarter.
Tanishq expanded its international network to the new markets of Sharjah in UAE and Atlanta & Seattle in USA. Of the 16 new store additions (net) in India, 4 stores were added in Tanishq and 12 stores were added in Mia.
Watches domestic business recorded another quarter of strong 20% YoY growth. Titan, Fastrack and Sonata propelled analog watches growth to 18% YoY. Division added 41 new stores in the quarter, comprising of 20 stores in Titan World, 10 in Helios, and 11 in Fastrack respectively.
Eyecare domestic business grew 18% YoY contributed well by revenue and buyers. E-commerce is a new growth driver for the segment and is favored by consumers for affordable fashion purchases like sunglasses. Titan Eye+ added two new stores in the UAE region, one each in Sharjah and Dubai. Division closed 11 stores (net) in India during the quarter.
In Emerging Businesses, Fragrances grew 26% YoY, Fashion Accessories clocked 12% YoY growth and Taneira 's sales were lower by 4% YoY. 'IRTH' opened 4 new stores in Hyderabad, Pune, Noida & Mumbai. Taneira closed 1 store during the quarter.
Caratlane registered 22% YoY growth, driven by healthy growth in the studded portfolio. The corresponding buyer growth was in mid-single-digits and L2L growth 11 % for this period. A total of 17 domestic stores (net) were added by Caratlane during the quarter.
Titan Company is a joint venture between the Tata Group and the Tamilnadu Industrial Development Corporation (TIDCO). The company diversified into Jewellery (Tanishq) and subsequently into EyeCare segment.
The company’s consolidated net profit marginally declined to Rs 1,047 crore in Q3 FY25, down 0.6% from Rs 1,053 crore in Q3 FY24. Net sales jumped 25.7% YoY to Rs 17550 crore in Q3 FY25.
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