Titan Company Ltd.

Titan Company has witnessed healthy double-digit growth across most businesses with overall sales growing 18% Year-on- Year (Y-o-Y). Retail network continued the pace of expansion adding 105 stores (net) for the quarter. The outlook for festive season (from Navratri in end September 2022) continues to be optimistic and is visible in positive consumer sentiment across categories. Its Jewellery division grew 18% YoY on a high base of Q2FY22 that had elements of pent-up demand and spillover purchases of a Covid disrupted Q1FY22.

Its Watches & Wearables Division grew 20% YoY, clocking its highest quarterly revenue. The strong tailwind demand led by a desire to own more premium I differentiated watches helped brand Titan grow fastest in the watches category (assisted by higher volume and average selling prices YoY).

Sales from Titan Eye+ stores saw healthy double-digit growth YoY. This, however, was offset by lower YoY sales across Trade & Distribution channel leading to an overall 7% YoY growth for the division.

Titan Company is an Indian designer and manufacturer of watches, jewellery, precision engineering components and other accessories including sunglasses, wallets, bags and belts.