Titan, a fashion accessories company owned by Tata Group, reported a 17 per cent year-on-year growth in the fourth quarter (Q4 FY24), according to a preliminary business update released on 5 April.
The company disclosed in an exchange filing that it added over 86 new stores during Q4, increasing its retail network presence to 3,035 stores in India.
In the jewellery sector, domestic operations witnessed robust growth of approximately 19 per cent year-over-year (YoY), driven by strong performances in both buyer engagement and same-store sales, with double-digit growth recorded across both the gold (plain) and studded segments. Notably, Tanishq expanded its presence by inaugurating new stores in Dubai and Chicago (USA) during the quarter. Within India, Tanishq accounted for 11 out of the 27 new store additions (net), while Mia contributed 16 new stores to the network.
The watches and wearables segment experienced solid annual growth of approximately 7 per cent, driven by a 7 per cent increase in revenue from analog watches and a 2 per cent uptick in Wearables. Within the analog portfolio, the Helios channel, featuring Titan and International brands, achieved rapid expansion with a healthy double-digit growth rate. Additionally, 44 new stores were opened during the quarter, including 10 in Titan World, 20 in Helios and 14 in Fastrack.
The EyeCare Division saw a slight decrease of approximately 1 per cent in revenue year over year. However, Titan Eye+ extended its reach by opening a new store in Dubai, bringing the total count to 4 stores in the GCC region.
In emerging businesses, Taneira achieved remarkable growth with revenue surging by around 37 per cent year over year, supported by the launch of 11 new stores during the quarter, including 8 new city entries.
Revenue from fragrances and fashion accessories also saw positive growth, increasing by approximately 12 per cent year over year. Fragrances revenue grew by approximately 9 per cent, while fashion accessories witnessed robust growth of around 18 per cent year over year.
Caratlane experienced significant business expansion, with a growth of about 30 per cent year over year. The studded segment performed in line with the overall growth trajectory. Additionally, the business expanded its domestic presence by opening 10 new stores, bringing the network expansion to 272 stores.
