Titan To More Than Double Its Jewellery Business By Fy27
Jewelry and look at retailer Titan Co. Ltd strategies to improve its main jewellery enterprise 2.5 periods by fiscal 2027 and get its ethnic dress in business enterprise Taneira and women’s luggage, below the Fastrack model, to ₹1,000 crore each individual in the exact period of time.
The enterprise documented ₹23,268 crore earnings from its jewelry company in FY22. For the 12 months finished 31 March 2022, the firm claimed ₹27,456 crore in standalone revenues.
India’s largest arranged jewelry retailer operates many jewelry manufacturers, including Tanishq, which is its largest, together with Zoya, Mia, and Caratlane. It options to open up a lot more than 600 jewelry retailers throughout 300 towns in a few many years, it explained in the course of an investor presentation ahead of its once-a-year investor and analyst discussion board held in Mumbai on 13 Could.
In jewelry, the organization pointed to enormous headroom to expand in a geographically fragmented current market. The firm will “chase several segments” and drive up share in weddings and solitaires. It programs to double the retailer count for its lower-priced jewelry brand name Mia by FY25 from the recent 275 to 550 with revenues topping ₹2,000 crore in the exact interval.
In FY22, the company’s jewelry segment accounted for 88{a0ae49ae04129c4068d784f4a35ae39a7b56de88307d03cceed9a41caec42547} of its business enterprise.
Titan Co. operates throughout segments these as jewellery, ethnic have on, eyewear, watches and wearables, fragrances, and bags. In all, the enterprise operates 2,178 retailers across formats in additional than 330 towns. For the 12 months finished 31 March, the organization noted ₹27,456 crore in standalone profits.
Titan has also drawn up an bold strategy to grow the scope of some of its newer companies. It options to improve its ethic don business enterprise, which at present operates beneath the saree model Taneira. The enterprise is eyeing 125 merchants by FY27, along with an omni-channel existence. It aims to accomplish a lot more than ₹1,000 crore income by concentrating on youthful saree-carrying consumers.
The corporation ideas to grow the women’s baggage business enterprise underneath its well-liked look at model Fastrack to ₹1,000 crore by FY27. It aims to sell 3.5 million parts in the same time period.
The firm created ₹900 crore in revenue through video clip commerce considering that the initiative was rolled out, it said.
In its watches and wearables small business, the firm strategies to realize ₹10,000 crore in business by 2025-26. About 70{a0ae49ae04129c4068d784f4a35ae39a7b56de88307d03cceed9a41caec42547} of this will occur from the watches phase with the remaining from wearables, it said in its presentation.