Titan Company, the Indian jeweller and watchmaker, anticipates a 25% rise in second-quarter revenue due to improved domestic demand for certain jewellery products following a reduction in customs duty on gold imports.
In͏͏ July,͏͏ India͏͏ reduced͏͏ import͏͏ duties͏͏ on͏͏ gold͏͏ from͏͏ 15%͏͏ to͏͏ 6%,͏͏ a͏͏ decision͏͏ seen͏͏ as͏͏ beneficial͏͏ for͏͏ retail͏͏ demand.
Jewellery Segment͏͏ to͏͏ Grow͏͏ by͏͏ 26%:
The͏͏ jewellery͏͏ segment,͏͏ featuring͏͏ brands͏͏ such͏͏ as͏͏ Tanishq͏͏ and͏͏ Mia,͏͏ is͏͏ projected͏͏ to͏͏ grow͏͏ by͏͏ 26%.͏͏ As͏͏ of͏͏ June-end,͏͏ it͏͏ accounted͏͏ for͏͏ approximately͏͏ 89%͏͏ of͏͏ the͏͏ consolidated͏͏ total͏͏ income͏͏ for͏͏ the͏͏ Tata-owned͏͏ company.
Continue͏͏ Exploring:͏͏ Titan Company outlines͏͏ aggressive͏͏ expansion͏͏ plans͏͏ for͏͏ Tanishq,͏͏ Taneira,͏͏ and͏͏ other͏͏ brands͏͏ this͏͏ year
The͏͏ watches͏͏ and͏͏ wearables͏͏ segment,͏͏ which͏͏ includes͏͏ brands͏͏ like͏͏ Fastrack,͏͏ Police,͏͏ and͏͏ Coach,͏͏ anticipates͏͏ a͏͏ 20%͏͏ rise͏͏ in͏͏ revenue,͏͏ according͏͏ to͏͏ the͏͏ company.
Rival͏͏ Kalyan͏͏ Jewellers͏͏ has͏͏ yet͏͏ to͏͏ publish͏͏ its͏͏ quarterly͏͏ update.
