Global Glint: Titan’s Q1 Sparkles with US Tanishq Boom and Domestic Resilience

Image Source: Portfolio Management Service

Titan Company Ltd has reported a steady 9 percent yearonyear growth in consolidated revenue for Q1 FY25, driven by a strong performance across its jewellery, watches, and eyewear segments. The highlight of the quarter was the doubling of Tanishq’s business in the United States, which significantly boosted the company’s international footprint.

Jewellery Segment: Anchoring Growth

Jewellery revenue rose 9 percent yearonyear to Rs 9,879 crore
Domestic jewellery sales grew 8 percent, aided by Akshaya Tritiya demand
Tanishq added 11 new stores in India and one in Muscat, Oman, taking its global store count to 17
CaratLane posted 30 percent growth, with revenue reaching Rs 832 crore

Watches and Wearables: Premium Tilt

Segment revenue climbed 15 percent to Rs 1,021 crore
Domestic business grew 14 percent, led by analog watches (up 17 percent)
Titan World, Helios, and Fastrack added 17 new stores collectively
Premium brands like Nebula and Xylys saw higher traction

Eyewear and Emerging Businesses

Eyewear revenue grew 3 percent to Rs 209 crore, with Titan Eye+ driving 10 percent volume growth
Emerging businesses (Taneira, fragrances, fashion accessories) posted 5 percent growth
Taneira’s revenue rose 4 percent, supported by new stores in Jodhpur and Nashik

International Business: Tanishq’s US Leap

Tanishq’s US operations doubled yearonyear, becoming the key driver of international growth
The brand’s global strategy focuses on the Indian diaspora and premium bridal collections

Consumer Sentiment and Outlook

Despite headwinds like high gold prices, fewer wedding dates, and electionrelated restrictions, Titan maintained momentum through premiumization and store expansion. The company added 61 stores in Q1, taking its total retail footprint to 3,096 outlets.

Sources: Economic Times, Business Standard, ET Now, Titan Company Investor Update, Moneycontrol