Titan makes its most ambitious regional push ever
With demand concentrated in semi-urban and rural areas, India’s leading jewellery maker will have to devise a strategy to woo those customers.
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Editor's note: Titan Company Ltd, one of India’s top jewellery makers, has had a good run. The Tata group firm recorded sales of Rs 8,308 crore in the September quarter of the current fiscal year, up 19% from the previous year. Its jewellery business, which accounts for 87% of its total sales, reported an all-time-high figure. The company’s stock touched a 52-week high of Rs 2,790 last week. Over the last three years, Titan’s jewellery business has gained from the pandemic-driven bull run in the commodities market and an increase in the prices of gold and diamonds owing to a shortage of commodities in the wake of the war in Ukraine. However, with commodity prices normalizing, Titan’s stock may have hit a peak. The company seems to have sensed this and is thus looking for an aggressive retail expansion. At its investor conference in May, Titan announced a plan to grow the jewellery business 2.5x over the next five years. It has set a target to open more than 600 stores in over 300 cities and towns by 2025; the company currently …
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