Following a vibrant festive season, Tata Group – Titan Company posted 12% development in its standalone enterprise within the December quarter, led by wholesome shopper demand.
Q3 Update: Tata Group’s Titan Company Reports Standalone Business Growth of 12% in December Quarter Helped by Holiday Sales
“Positive consumer sentiment helped all categories post healthy double-digit growth despite a high base in the same period last year,” in keeping with Titan’s quarterly replace for the third quarter of fiscal 23.
The main jewellery and watch firm additionally continued to increase its community by including 111 shops between October and December, bringing the entire quantity to 2,362 on the finish of the quarter.
Titan Jewellery, throughout the quarter, achieved YoY development of 11 %. The jewellery section typically contributes greater than two-thirds of its income.
“Healthy development in new patrons over the vacation interval, larger worth purchases within the studs class, and distinctive new collections for the season helped the division obtain 12 months-over-12 months development of 11 % (excluding bullion gross sales). Titan stated.
Studded class gross sales reasonably outpaced the gold (plain) jewellery section. Wedding gross sales grew in step with the division’s total gross sales, he famous.
As a part of its international growth, Titan opened its first worldwide Tanishq boutique retailer in New Jersey, USA in December 2022.
“With the opening of this store, the international footprint now spans 6 stores in Dubai, Abu Dhabi and the US. New (net) store expansion for the quarter consisted of 8 stores in Tanishq and 14 in Mia by Tanishq,” stated.
Its ‘Watches and Wearables’ section reported 12 months-over-12 months development of 14 %. This was led by “strong traction” within the wearables area.
“A host of exciting product launches in the fiscal year leading up to the holiday season contributed to more than a tripling of handheld device subsegment sales in the quarter compared to the same period last year,” it stated.
In the attention care section, the corporate stated gross sales from Titan Eye+ shops and the retail and distribution channel noticed development in step with the general division.
“EyeCare expanded its presence nationwide by adding 36 new stores at Titan Eye+ (net) for the quarter,” it stated.
Fragrances and trend equipment (F&FA) grew 39% 12 months-on-12 months. This was pushed by 50 % development in fragrances and round 21 % development in trend equipment, in keeping with the replace.
Its Indian attire enterprise, Taneira, expanded 150 % 12 months-on-12 months, fueled by new retailer openings and wholesome double-digit development from current shops.
“Customer response during the festive season was quite encouraging. The brand opened 5 new stores during the quarter, bringing the total store count to 36 covering 17 cities across India,” he stated.
[Disclaimer: This story was automatically generated by a computer program and was not created or edited by Journalpur Staff. Publisher: Journalpur.com]
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