Titan Sets Ambitious Targets to Boost Market Share in Jewellery Business

Titan Company Ltd. is making strategic moves to expand its footprint in the jewellery market, aiming to increase its market share to 10-11% from the current 8.6%

Post By : IJ News Service On 10 June 2024 12:48 PM

Titan Company Ltd. is aiming to increase its market share in the jewellery sector to 10-11%, up from the current 8.6%.

The company forecasts a revenue CAGR of 15-20% over FY24-27, with margins expected to stabilize around 11.5-12.5%. Titan also targets 6 million customers by FY27 and aims for a 12% CAGR from FY19-24.

The company projects doubling Mia's and Caratlane’s revenues within three years and increasing its wearables market share. It plans to focus on luxury/premium, women, and Gen-Z customers.

In the eyecare segment, Titan anticipates a 40% revenue CAGR over the next three years, aiming for Rs2,000 crore in sales with a 12% EBIT margin by FY27. The emerging business segment, including fragrances, fashion accessories, and Indian dress wear, is targeting Rs1,000 crore revenue by FY27. Additionally, Titan aims to achieve $500 million in international sales and 500,000 customers by FY27.

Key volume targets for FY27 include tripling wearables and women’s bags, doubling fragrances, and tripling Taneira. Rekha Jhunjhunwala holds a 5.35% stake in Titan, valued at Rs15,687 crore.

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