RAPAPORT… Same-store jewelry sales at Titan Company grew during the third
fiscal quarter, signaling strong demand for branded jewelry during the Diwali and Dussehra festival
period, the Indian retailer said.
“Customer demand was buoyant in the festive season of
Diwali-Dussehra,” the company noted in a trading update Friday. “Expansion of
the store network continued as planned, to benefit from the rising aspirations
of the consumers in middle India to shop from the leading brands.”
Titan expects jewelry sales to rise 22% for the full fiscal year to March 31. It has yet to release its complete sales data for the third quarter ending December 31.
Image: Titan jewelry. (Titan Company)
Titan Records Growth over Diwali Season
The Bottom Line
- Titan's same-store jewelry sales increased in the third fiscal quarter amid the Diwali and Dussehra festivals.
- The company continues to expand its store network targeting middle India consumers seeking branded jewelry.
- Titan projects a 22% rise in jewelry sales for the full fiscal year ending March 31.
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