Business & Investment

Titan Shares: Titan Content with Festive Quarterly Revenue Driven by Growth Trends in the Jewelery Sector in a Pandemic

Bangalore: Tata-owned Titan Company during the festive quarter that ended in December jewelry The segment recorded double-digit growth, the watch and eyewear business recovered almost completely and helped the business return to normal during the Covid-19 outbreak.

“It’s been six months since we were mostly limited to home, and the company was hoping for a good holiday season as customers showed signs of wanting to go out and shop. Q3 wasn’t disappointed. The jewelery sector has moved from recovery to growth, and the other two major sectors are much closer to full recovery, “Titan said. BSE..

Watch, jewelery and eyewear sellers said they witnessed 15% growth (excluding raw gold sales) in the jewelery sector in the third quarter due to stagnant demand for bridal jewelery. .. Most weddings have been postponed to the first half due to pandemic-led regulations. Improvements in carry-on and sales in the metro, especially in the less than Rs 10,000 category and studs segment, continued to grow after the Dussehra-Diwali season. Ticket sizes continue to grow due to high gold rates and a high share of wedding-related products, but buyers (number of invoices) have not yet recovered 100%, the company said quarterly. It is stated in each update.

E-commerce led the recovery of the watch and wearable sector, with a recovery rate of around 88% due to the surge in shopping zones and the sale of multiple products or larger ticket-sized products on a single bill. ..

The eyewear sector recorded a 92% recovery compared to last year’s same quarter revenue.Other businesses such as Indian clothing brands Taneira He pointed out a recovery of about 80%.

Titan recorded an 8.59 percent revenue increase of Rs 622,500.89 in the same quarter of 2019, driven by a good festive and wedding season. Jewelery revenue increased 10.6% in the third quarter of 2018. Revenues from watches recorded a slight 2.4% decrease compared to 2018 due to sluggish sales in December.



Titan Shares: Titan Content with Festive Quarterly Revenue Driven by Growth Trends in the Jewelery Sector in a Pandemic

https://economictimes.indiatimes.com/markets/stocks/news/titan-content-with-festive-quarter-earnings-led-by-growth-trend-in-jewellery-division-amid-the-pandemic/articleshow/80128135.cms Titan Shares: Titan Content with Festive Quarterly Revenue Driven by Growth Trends in the Jewelery Sector in a Pandemic

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