Jewellery domestic operations grew 18 per cent year-on-year (YoY) in a quarter marked by gold price volatility affecting consumer sentiments
Sharing an update on the performance during the first quarter of the current financial year (Q1FY26), Titan Company, a Tata group firm, has stated that its consumer business clocked a year-on-year (YoY) growth of 20 per cent in Q1FY26.
Jewellery domestic operations grew 18 per cent YoY in a quarter marked by gold price volatility affecting consumer sentiments. While the Akshaya Tritiya period saw good traction, the increase in gold prices from May till mid-June saw some softening in customer purchases. Buyer growth was flat (YoY) for both TMZ and CaratLane, the company informed.
“In the high gold rate scenario, customers preferred lightweight and lower karatage jewellery. The studded ratio came in lower YoY, driven by the differential growths across segments (in TMZ), with coins continuing to lead strongly, plain gold growing in mid-teens and studded segment growth coming in early double digits,” the company highlighted in a regulatory filing.
The like-to-like (L2L) domestic sales growth in TMZ was in early double digits, driven entirely by ticket size growth across formats, and the same in CaratLane was in healthy double-digits. The company noted that of the 19 new store additions (net) in India, three were in Tanishq, seven in Mia and nine in CaratLane, respectively.
Watches domestic business clocked a strong quarter of 23 per cent YoY growth, led by analog driven by both volume and value growth. Sonata, with its refreshed offerings, led the growth charts for the quarter, closely followed by Titan and well supported by Fastrack and international brands, all clocking healthy double-digit growth. The company said that the division added nine new stores (net), consisting of four stores in Titan World and five in Helios, respectively.
“EyeCare’s domestic business grew 12 per cent YoY, led by performances across retail and ecommerce, by both International and house brands. Titan Eye+ retail opened 12 new doors and closed 32 stores, resulting in 20 domestic store closures (net) for the quarter,” the statement read.
The International Business grew 49 per cent YoY, led by a near doubling of Tanishq’s business in the United States (US) market. The one new store addition (net) in the quarter consisted of Tanishq’s and Titan Eye+’s one new store opening (each) in the UAE in Dubai and Sharjah, respectively and the closure of one Mia store in the region, as per the official statement.
