Due to COVID-19 Lockdown, most of the Jewellery Stores were shut through June. In Jewelry segment, about 90% of the stores were open in July. For the leading brand, Tanishq, Retail sales in June recovered to 77% of last year’s levels followed by a strong recovery in July to 101%. Retail sales of studded jewelry stood at 59% of base month in June and 67% in July. Consumer sentiment towards gold has been fairly positive. Titan has witnessed some advancement of purchases for weddings. Rising Gold Price can (more…)
In eyewear, Titan operates through Titan Eye+ brand wherein it has 278 stores (out of which ~80 are company owned and others are on franchise) offering a wide variety of prescription eyewear, frames, lenses, sunglasses, contact lenses, ready readers and accessories. Titan imports frames, though lenses are manufactured in house.
Titan relies heavily on innovation to drive growth in this (more…)