Titan Company Limited reported substantial growth in its jewellery category during the second quarter of FY2025. The segment’s income increased by 26% year on year, owing to a boom in consumer demand for gold jewellery following a drop in Customs duty on gold imports from 15% to 6%.
Gold sales at the company’s domestic jewellery activities increased significantly, particularly in the non-solitaire studded area. While the solitaire segment struggled due to pricing volatility and supply-demand dynamics in the international market, total studded sales growth remained in the low double digits.
Titan‘s strategic activities, such as the introduction of new collections, discounts, and marketing campaigns, helped drive an 11% rise in buyer growth. Domestic jewellery operations experienced excellent like-to-like (secondary) sales growth, with figures in the mid-teens.
Titan expanded its presence by opening 24 new jewelry stores during the quarter, including 11 Tanishq stores, 11 Mia stores, and 1 Zoya store. This development has enabled the organization to access a larger consumer base and strengthen its retail network.