Titan sees 18% gross sales progress in September quarter

 

 Tata group agency Titan on Thursday mentioned its total gross sales grew 18 per cent year-on-year within the September quarter.

The corporate, which operates within the segments as Jewelry, Watches & Wearables, and EyeCare has witnessed “wholesome double-digit progress throughout most companies,” based on a quarterly replace.

Titan added 105 shops in its retail community within the second quarter of the present fiscal.

“The corporate witnessed wholesome double-digit progress throughout most companies with total gross sales rising 18 per cent YoY,” Titan mentioned.

In regards to the outlook for the festive season, the corporate mentioned it continues to be “optimistic and is seen in optimistic client sentiment” throughout classes.

Through the September quarter, Titan’s jewelry division, which contributes round 85 per cent of its income, grew “18 per cent YoY on a excessive base of Q2FY22 that had components of pent-up demand and spillover purchases of a Covid-disrupted Q1 FY22”.

The product-mix within the jewelry division improved in comparison with final yr however continued to be under pre-pandemic ranges.

” Stroll-ins grew in low double digits YoY with regular purchaser conversions,” the corporate mentioned.

The Watches & Wearables division grew 20 per cent clocking its highest quarterly income.

Within the Eyecare phase, its Titan Eye+ shops noticed wholesome double-digit progress. Nonetheless, the identical was offset by decrease YoY gross sales throughout Commerce & Distribution channel, resulting in an total 7 per cent progress for the division.

Titan’s Fragrances & Style Equipment grew 34 per cent YoY, pushed by 37 per cent progress in Fragrances and 29 per cent progress in Style Equipment.