Titan Sees 18% Sales Growth In September Quarter
The company said it has witnessed "healthy double-digit growth across most businesses."
Tata group firm Titan on Thursday said its overall sales grew 18% year-on-year in the September quarter.
The company, which operates in the segments as jewellery, watches and wearables, and eyecare has witnessed "healthy double-digit growth across most businesses," according to a quarterly update.
Titan added 105 stores in its retail network in the second quarter of the current fiscal.
"The company witnessed healthy double-digit growth across most businesses with overall sales growing 18% YoY," Titan said.
About the outlook for the festive season, the company said it continues to be "optimistic and is visible in positive consumer sentiment" across categories.
During the September quarter, Titan's jewellery division, which contributes around 85% of its revenue, grew "18% YoY on a high base of Q2FY22 that had elements of pent-up demand and spillover purchases of a Covid-disrupted Q1 FY22."
The product-mix in the jewellery division improved compared to last year but continued to be below pre-pandemic levels.
"Walk-ins grew in low double digits YoY with steady buyer conversions," the company said.
The watches and wearables division grew 20% clocking its highest quarterly revenue.
In the eyecare segment, its Titan Eye+ stores saw healthy double-digit growth. However, the same was offset by lower year-on-year sales across trade and distribution channel, leading to an overall 7% growth for the division.
Titan's fragrances and fashion accessories grew 34% YoY, driven by 37% growth in fragrances and 29% growth in fashion accessories.