The Tata Group-owned fashion accessory brand Titan reported a 17% year-over-year rise in Q4 FY24, or the fourth quarter, in a preliminary business update on April 5.
In a quarterly report, the company also disclosed that it opened over 86 new locations in India, bringing its total retail network presence to 3,035 locations.
Strong year-over-year (YoY) growth of over 19% was observed in the domestic jewelry sector, with double-digit growth in both buyer engagement and same-store sales contributing to this expansion. A strong 7% yearly growth was recorded in Watches & Wearables’ domestic business.
The Helios channel, which houses the Titan and International brands, experienced the fastest growth rate of any analog portfolio segment, growing at a robust double-digit rate. In addition, 44 new stores—10 in Titan World, 20 in Helios, and 14 in Fastrack—opened during the quarter.
Revenue for the EyeCare Division decreased by about 1% on an annual basis. But Titan Eye+ expanded its scope by opening a new location in Dubai, increasing the number of locations to 4 around the GCC.
Caratlane’s business grew significantly, with an annual growth rate of over 30%.Taneira saw impressive growth with revenue rising by almost 37% annually. In particular, income from fragrances increased by about 9% annually, and revenue from fashion accessories increased significantly by about 18% annually.
