Tata's Titan Company plans to add 600 jewellery stores in 300 cities in three years
Tata Group business Titan Company plans to open 600 stores for its various jewellery and fashion brands across 300 Indian cities over the coming five years as it sees high potential for growth and increase in market share.
As the Indian jewellery market moves towards organisation and formality, Titan Company aims to capitalise on this and grow its jewellery brands, Indian Retailer reported. The business aims to open new stores to both boost sales and reach new markets across its brand roster.
Titan is confident that its fashion jewellery brand Mia by Tanishq will drive growth and reach Rs 2,000 crore in sales by the 2025 financial year up from Rs 290 crore in the recent 2022 financial year. To reach this goal, Titan Company will double its points of sale for Mia from 275 to 550 by the 2025 financial year.
The business also plans to quadruple its customer base for brand Zoya by the 2025 fiscal as the business sees immense potential for the growth of the Indian luxury industry as a whole. Titan aims to make Zoya the jewellery brand of choice for the Indian diaspora and thus increase its international customer base.
Titan Company reported net sales for the 2022 financial year of Rs 27,417 crore. Of this total, Titan’s jewellery division contributed Rs 25,523 crore and its watches and wearables division contributed Rs 2.317 crore.
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