Monday, February 6, 2023
Google search engine
HomeMarketStocksTitan Q3 Update: Combined sales rise 12% YoY on strong consumer demand

Titan Q3 Update: Combined sales rise 12% YoY on strong consumer demand

Backed by the wholesome client demand throughout the festive season, Restricted noticed 12% on-year progress in mixed gross sales within the standalone enterprise throughout the quarter ended December.

The constructive client sentiment helped all classes clock wholesome double-digit progress, regardless of a excessive base in the identical interval of final yr, the corporate stated in a launch.

Persevering with the community growth, the retail presence stands at 2,362 shops on the finish of the quarter.

Within the mainstay jewelry phase, gross sales grew 11%, and watches and wearables elevated 14%. Within the eyecare enterprise, the income rose 10%.

The gross sales from the studded class reasonably outpaced gold jewelry phase progress in comparison with the identical interval final yr. Wedding ceremony gross sales grew in step with the division’s total gross sales, Titan stated.

Within the quarter, the corporate added 8 new shops in Tanishq and 14 in “Mia by Tanishq”.

Robust traction within the wearables area drove the double-digit progress within the phase.
“A slew of thrilling product launches within the fiscal yr resulting in the festive season contributed nicely to greater than tripling gross sales from the wearables sub-segment within the quarter, in comparison with similar interval final yr,” Titan stated.

Throughout the quarter, Titan internet added 24 shops of Titan World— 17 of Helios and seven in Fastrack.

Gross sales from Titan Eye+ shops and commerce and distribution channels noticed in-line progress with the general division. EyeCare expanded its nation-wide presence by including 36 new shops in Titan Eye+ within the quarter.

Titan noticed robust progress even within the rising enterprise segments similar to fragrances and trend equipment (F&FA) and ethnic put on.

The income in F&FA phase grew 39% on-year, pushed by 50% and 21% progress in fragrances and trend equipment, respectively.

The expansion in gross sales of ethnic put on retailer Taneira grew 150% on yr, pushed by new retailer openings and wholesome double-digit progress from the present shops. The client response throughout the festive season was fairly encouraging.

Titan opened 5 shops throughout the quarter, taking the overall retailer depend to 36, protecting 17 cities pan-India.

(Disclaimer: Suggestions, solutions, views and opinions given by the specialists are their very own. These don’t characterize the views of Financial Instances)

Source link

- Advertisment -
Google search engine

Most Popular

Recent Comments