Titan witnesses 36 percent growth in Q3
Tata group firm Titan Ltd has witnessed a 36 percent growth during the third quarter on the back of strong demand across its businesses during the festive season.
The growth was driven by the jewellery division which saw strong sales on the back of festive purchases in October and November which helped the division achieve a 37 percent growth for the quarter.
The company's ‘watches and wearables’ division also saw strong growth momentum with 28 per cent year-on-year growth while its eyewear division reported a strong growth of 27 percent.
“Both walk-ins and customer conversions were significantly higher compared to last year. New buyer growth was higher than total buyer growth driven partly by Tanishq’s regionalisation strategy of winning in focus markets,” Titan said in its quarterly update.
"The company has also expanded the network of Tanishq’s stores by adding 14 more into it, which includes two new stores in Dubai at prime locations of Dubai mall and Al Barsha," it added.
During the quarter, Titan's fragrances and accessories segment which includes brand like Taneira reported the highest 44 percent year-on-year growth.
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