Revenue increased at Titan Company in the second fiscal quarter, thanks to brand-level promotions.
Consolidated sales at the country’s largest jewelry retailer – including at subsidiaries – advanced 25% for the three months that ended September 30, the Indian company reported Tuesday.
Revenue from the company’s jewelry segment, which includes Tanishq, Mia and CaratLane, rose 21% for the quarter, versus a 39% improvement in jewelry for the same period last year.
Demand remained healthy for most of the quarter, though it eased toward the end of the period due to the festive calendar shifting to the third fiscal quarter. Tanishq’s Festival of Diamonds range and brand-level promotions supported spending.
Sales of studded jewelry, including diamonds, saw percentage growth in the low 30s, Titan added. Plain-gold jewelry sales increased approximately 20%, while revenue from watches gained 30% year on year.
Titan added 78 new stores during the quarter, bringing its total store count to 3,758 at the end of the period.
The company also generates revenue from eyewear, as well as other businesses, including fragrances and fashion accessories.
Image: A CaratLane store in India. (Shutterstock)
