Titan sales up 18 per cent in September quarter

 Titan sales up 18 per cent in September quarter

Titan announced a year-on-year growth of 18 per cent in sales for the September quarter.

Tata Group's trading company Titan on Thursday reported that its total sales grew by 18% compared to the same period last year.

Tata group firm Titan on Thursday said its overall sales grew 18 per cent year-on-year in the September quarter.

The company, which operates in segments as jewellery, watches and wearables, and eyecare, has seen "healthy double-digit growth across most businesses," according to the quarterly update.

Titan added 105 stores to its retail network in the second quarter of the current financial year.

"The company saw healthy double-digit growth across most businesses, with total sales up 18 percent year over year," Titan said.

On the festive season outlook, the company said it remains "optimistic and reflected in positive consumer sentiment" across categories.

During the September quarter, Titan's Jewelery division, which contributes around 85 per cent to its revenues, grew "18 per cent YoY on a high Q2FY22 basis, driven by elements of Covid-disrupted Q1 FY22 demand and spillover purchases". ".

The product-mix in the jewelery division has improved over the past year, but remains below pre-pandemic levels.

"Walk-in grew in the low double digits with steady buyer conversions," the company said.

The Watches & Wearables division posted its highest ever quarterly revenue growth of 20 percent.

In the iCare segment, its Titan Eye stores witnessed decent double digit growth. However, this was offset by lower year-on-year sales in the trade and distribution channel, leading to a 7 per cent overall growth for the division.

Titan's fragrances and fashion accessories grew 34 per cent year-on-year, driven by 37 per cent growth in fragrances and 29 per cent growth in fashion accessories.

This story has been published without modification in text from a wire agency feed.