Titan sees 22% revenue growth in FY24 Q3, opens 90 stores

Tata Group’s Titan Company reported a 22% year-on-year increase in its revenue for the third quarter of the 2024 financial year with most of its segments experiencing double digit growth. The business opened a total of 90 new brick-and-mortar stores during the quarter which helped to fuel its revenue increase. 

Titan Company counted 2,859 stores at the end of the second quarter of the 2024 financial year and reached a total of 2,949 stores at the end of the third quarter, ET Markets reported. The business opened brick-and-mortar stores for its jewellery, watch, and eyewear segments across India and beyond. 
 
Titan Company’s jewellery division experienced 21% year-on-year growth in the December quarter. The segment reported double-digit buyer growth and also slightly increased its average selling price. Along with increased demand, the business ran a number of promotional offers and exchange programmes to boost sales. 

The business’ watches and wearables division witnesses 23% year-on-year growth in the December quarter, ET Bureau reported. Watches grew by 18% but wearables grew at the significantly higher rate of 64%. Titan opened 25 new stores for its numerous watch businesses during the quarter. 
 
The only segment to see a revenue decline was Titan’s eye care division. The segment’s revenue was down by 3% year-on-year and Titan opened just two stores during the fourth quarter, both in the Middle East.