Titan Ltd to expand retail presence with 150 stores in FY24

By

Maverick Martins

Published
Apr 20, 2023

Tata Group-owned Titan Ltd plans to go on an expansion spree by adding 150 new stores in the financial year 2024 to strengthen its jewellery vertical across the country.

Titan has witnessed strong growth with the expansion of its retail presence in the last fiscal year and plans to continue with the expansion going forward to fuel its growth. Along with expansion, Titan plans to renovate 25 of its existing stores this year.

With its retail expansion, Titan Ltd which is already a dominant player in the organised jewellery sector aims to gain a bigger market share.

“We currently hold a market share of 7 percent of the 32 percent of the organized market, there has been a steady gain in the share, and going forward we will continue to build on the same,” Ajoy Chawla, CEO of jewellery division at Titan Ltd told Businessline.

“Our strong balance sheet as a zero-debt company gives us the ability to invest in growth opportunities, even during times of market uncertainty. Our robust financial standing instils the confidence to take risks with our inventory, which is a constant requirement in our business,” he added.

Titan Ltd operates jewellery brands including Tanishq, Mia, CaratLane, and Zoya. It currently has around 750 jewellery stores across the country.