New Women-Focused Marketing Campaigns Buoy Titan 

Sales and earnings grew at Indian jeweler Titan Company in the fourth fiscal quarter as new marketing campaigns geared toward female self-purchasers encouraged buying. 

Revenue jumped 21% year on year to INR 126.53 billion ($1.52 billion) for the three months that ended March 31, including at subsidiaries, the retailer reported last week. Net profit gained 4.8% to INR 7.71 billion ($92.3 million). Revenue from jewelry, the company’s biggest division, grew 21% for the period, while sales of watches and wearables rose 6%. The company, whose brands include Tanishq, Mia and CaratLane, also sells eyecare products and other items. 

“‘The Festival of Diamond’ campaign encouraged women to celebrate the micro moments enriching their everyday lives and Tanishq diamonds as a right fit for their needs,” the company noted.  

The addition of several new locations to its store network also benefited sales. During the quarter, Tanishq opened two new international stores, in Dubai and the US, and 11 new stores in India. Mia added 16 new boutiques. 

Revenue climbed 26% to INR 516.17 billion ($6.18 billion) for the full year. Meanwhile, net profit rose 7% to INR 34.96 billion ($418.7 million). 

“Fiscal year 2024 was yet another satisfying year for Titan,” said Titan managing director C.K. Venkataraman. “Our jewelry business continued to grow in prominence. Together our brands…are meaningfully innovating and offering the best variety of choices for the discerning woman of tomorrow.” 

Image: A Tanishq store in Pune, India. (Shutterstock)