Titan Company’s jewellery division, consisting of Tanishq, Mia, Zoya (collectively referred to as TMZ), and CaratLane, registered an 18% year-on-year growth in Q1 FY26, navigating through a quarter marked by fluctuating gold prices and cautious consumer sentiment.
Together, the jewellery division added 19 new stores in India during the quarter—3 Tanishq, 7 Mia, and 9 CaratLane—bringing the total jewellery store count to 1,086.
Sales during the Akshaya Tritiya period showed strong traction, but rising gold prices from May to mid-June led to a slowdown in buying. Customer preference shifted towards lightweight and lower karatage jewellery. While the plain gold segment grew in mid-teens and coin sales remained robust, the studded jewellery segment grew in early double digits.
Buyer growth versus last year remained flat for TMZ and CaratLane, but like-to-like sales in both formats rose in healthy double digits, driven by higher ticket sizes rather than volume.
CaratLane stood out with a 38% year-on-year revenue growth, continuing its upward trajectory as a key digital-first jewellery brand under Titan’s umbrella.