Titan Company Limited reported a stellar 26% year-on-year (YoY) growth in its jewellery segment, consisting of brands Zoya, Tanishq, Mia and CaratLane, reaching ₹14,697 crore in Q3 FY25. The surge was driven by strong festive demand, rising gold prices, and a 29% increase in wedding-related purchases.
Tanishq expanded its presence, adding 11 new stores, while Mia introduced 13 new outlets domestically. Gold jewellery and coins remained consumer favourites, recording a 27% YoY growth. However, the reduction in customs duty impacted profitability, with EBIT margins at 9.5%. Adjusting for this, the normalised EBIT stood at ₹1,651 crore with an 11.2% margin.
CaratLane, Titan’s digital-first jewellery arm, also performed impressively, with revenue soaring 27% to ₹1,117 crore. Its international expansion gained momentum with the launch of its first US store in New Jersey.
Titan’s global footprint continued to grow, with the international jewellery business posting a 64% YoY increase, reaching ₹569 crore, fuelled by North American demand and new store openings in Dubai and Seattle.
Despite duty-related challenges, Titan remains optimistic about sustained jewellery sector growth, backed by strong consumer sentiment and expansion initiatives.