Tata Group's Titan sees combined sales grow 12% in Q3

By

Isabelle Crossley

Published
Jan 9, 2023

Titan Limited reported 12% year-on-year growth in combined sales in standalone business during the third quarter of the 2023 financial year. The Tata Group company benefited from positive consumer sentiment and continued network expansion in the quarter. 

“A slew of exciting product launches in the fiscal year leading to the festive season contributed well to more than tripling sales from the wearables sub-segment in the quarter, compared to same period last year,” said Titan in a statement, ET Bureau reported. 
 
On top of wearables, all of Titan’s product categories reported double digit growth compared to a high base in the third quarter of the 2022 financial year, according to the business. By the end of the recent quarter, December 31, Titan Limited counted a total of 2,362 brick-and-mortar stores for its brands. 

The business’ jewellery segment as a whole clocked 11% year-on-year sales growth in the third quarter. Wearables led the way with growth at 14% and the business’ eye care segment reported 10% growth, the Economic Times reported.
 
Titan Limited is continuing to add stores to its retail network and opened eight new Tanishq jewellery stores and 14 new ‘Mia by Tanishq’ stores during the recent quarter. Titan also added 24 ‘Titan World’ stores to its retail portfolio over the quarter. The business is confident that this continued retail expansion will help to fuel continued sales growth.