Titan Company Limited reported an impressive 24% year-on-year (YoY) growth in standalone revenue for the third quarter of FY25, driven by robust festive demand across its key segments. The company also expanded its retail presence significantly, adding 69 stores across its business lines, bringing the total store count to 3,240 as of December 2024.
Key Financial Highlights
- Standalone Revenue Growth: 24% YoY.
- Jewellery Segment: Grew 26% YoY, driven by strong demand during Diwali and wedding season.
- Watches & Wearables: Increased by 15% YoY, with premium analog watches outperforming the wearables segment.
- EyeCare: Witnessed an 18% YoY rise, supported by retail and e-commerce sales.
- Emerging Businesses: Recorded 5% YoY growth, led by fragrances.
Segment-Wise Insights
Jewellery
- Achieved 25% growth YoY in the domestic market, fueled by festive purchases and higher gold prices.
- Gold coin sales soared by 48% YoY, reflecting consumer preference for gold investments.
- The studded jewellery portfolio registered a 21% YoY increase, marking its best quarter in FY25.
- Added 26 stores (net), including international expansions in Seattle, USA, and Gold Souk, Dubai.
Watches & Wearables
- Analog watches grew 19% YoY, supported by festive demand and premiumization trends.
- Wearables declined 20% YoY due to market stress in the smart wearables segment.
- Added 23 new stores in Q3, including 12 Titan World outlets and 10 Helios stores.
EyeCare
- Retail and e-commerce sales led to a 17% YoY growth.
- International brands and affordable fashion eyewear contributed significantly to the product mix.
- Net store count decreased by 3 during the quarter.
CaratLane
- Grew by 25% YoY, driven by a 26% rise in the studded jewellery portfolio.
- Added 20 stores (net) in India and opened its first international store in New Jersey, USA.
Strategic Developments
- Focused on expanding the premium and international offerings across categories.
- Continued to invest in innovative marketing campaigns and brand collaborations during the festive season.
