Does Titan have aggressive plans to grow its jewellery business in an aggressive way?

Titan is not only aggressive about its jewellery business but also plans to boost its ethnic wear business in a big way. While the core jewellery business is expected to grow 2.5 times by FY27, Titan also plans to take ethnic wear business Taneira and women’s bags under the Fastrack brand, to Rs1,000 crore each in the same period. For FY22, Titan had reported total sales revenues of Rs23,268 crore from its jewellery.

In jewellery business, Titan sees massive headroom to grow in a market that is very geographically fragmented. The company plans to drive up its share in weddings and solitaires and at the same time it also plans to double its store count for from 275 to 550 for low priced jewellery. As of FY22, jewellery is still 88% of its overall business.

For instance, Titan plans to grow its ethic wear business under the brand of Taneira. Titan plans to achieve more than Rs1,000 crore sales by targeting young saree-wearing consumers. In the watches and wearables segment, Titan plans to achieve Rs10,000 crore by FY26. Nearly 70% of these revenues are expected to come from the watches segment with the balance coming from wearables.