Titan Company Limited has announced a 26% year-on-year (YoY) growth in its jewellery segment, which includes brands such as Zoya, Tanishq, Mia, and CaratLane, reaching ₹14,697 crore in Q3 FY25. The strong performance was driven by high festive demand, rising gold prices, and a 29% increase in wedding-related purchases.
Tanishq expanded its network by opening 11 new stores, while Mia launched 13 new outlets in India. Gold jewellery and coins remained top choices for consumers, with a 27% YoY growth in sales. However, Titan faced a slight setback in profitability due to a reduction in customs duty. This impacted the company’s earnings before interest and taxes (EBIT), which stood at 9.5% margin. After adjusting for this, the normalised EBIT was ₹1,651 crore, reflecting an 11.2% margin.
CaratLane, Titan’s digital-first jewellery brand, also performed well, with revenue increasing by 27% to ₹1,117 crore. The brand made notable progress in international expansion, opening its first store in the US, located in New Jersey.
Titan’s international jewellery business saw impressive growth, posting a 64% YoY increase to ₹569 crore. This growth was driven by strong demand in North America and new store openings in Dubai and Seattle.
Despite challenges related to customs duties, Titan is optimistic about the continued growth of the jewellery sector, supported by strong consumer demand and expansion efforts.
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