Titan Company’s revenue grew in the third fiscal quarter as consumers ramped up purchases of gold and jewelry over the holiday season.
Sales rose 24% year on year — excluding at subsidiaries — for the three months that ended December 31, the company, which owns the brands Tanishq and Mia and online retailer CaratLane, said Monday. Jewelry revenues gained 26%, with watches and wearables up 15%.
The quarter is one of the most important for the Indian jewelry market, as it includes the Diwali holiday, which occurred on October 31 to November 1 last year, and the festive occasion of Dhanteras, which took place October 29 to 30. It is also the start of the wedding season, a popular time to purchase gold products. During the October-to-December period, revenue from plain gold jewelry rose 24%, while gold coin sales advanced 48%. Studded jewelry, which includes diamonds and gemstones, improved 21%.
“Strong festive demand” buoyed jewelry sales, the company stated. “Robust consumer traction during Diwali translated into high single-digit buyer growth along with double-digit ticket-size growth. Gold (plain) exhibited particularly strong momentum…benefiting from increased gold prices, festive and wedding purchases.”
The high growth in gold coin sales reflected “consumer preference for gold as an investment avenue,” Titan continued, adding that the studded-jewelry category recorded its highest quarterly total for fiscal 2025.
Meanwhile, sales at CaratLane, which Titan purchased last year for $557 million, grew 25%, benefiting from its first international store in New Jersey, opened during the quarter, as well as 19 new domestic stores.
During the three-month period, Titan added a net 69 stores, bringing its total to 3,240. The group will likely release full results for the quarter — including sales value — in early February.
Image: A Tanishq store in New Jersey. (Titan Company)
