Titan Industries, the leading Indian jewelry brand known for its flagship line Tanishq, expects to see a rise in the contribution of diamond-studded jewelry from 26% to 30% in the next two to three years.
India’s leading jewelry brand, Titan Industries, predicts a rise in the contribution from diamond-studded jewelry from its current 26% to 30% in the next two to three years.
Over 80% of Titan Industries' revenue comes from its popular brand Tanishq. In the December quarter, the company's total income from the jewelry division rose by 11.2%, with an upsurge in demand in January, according to Ashok Sonthalia, Chief Financial Officer of Titan Industries.
Although the increase in gold prices in December initially deterred buyers, they eventually returned to the market when they realized that prices would continue to remain high.
The brand also plans to open 40-45 new stores in the domestic market in FY24 and increase its store count of its ethnic wear brand, Taneira, to 45 by the end of the current fiscal year. Additionally, the company aims to add 100-150 more stores to its eyewear segment in the next financial year while exploring new distribution channels for its watch segment.
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