Titan to Double Jewellery Market Share and Boost Emerging Businesses

Titan Company aims to grow its jewellery market share and expand into emerging businesses. Currently operating 900 stores, Titan plans to increase its jewellery buyer base from 3.8 million to 6 million and boost its market share from 8.6% to 10-11% by FY27, while maintaining a revenue growth rate of 15-20%. The jewellery division, including brands like Tanishq, Zoya, CaratLane, and Mia, saw a 20% income growth, reaching ₹38,353 crore in FY24.

Expansion Plans

  • Tanishq: Titan operates 464 stores in 270 towns, adding 110 new Tanishq and 140 Mia stores in the past three years.
  • CaratLane: Aims to expand to 425 stores in over 200 towns by FY27, up from 272 stores currently.
  • Mia: Plans to double its revenue in the next three years.

Financial Goals

  • Titan aims to expand its jewellery division margin to 11.5-12.5%.
  • The company targets 30-40% growth in emerging businesses like wearables, women’s bags, and ethnic wear by FY27.

Eyecare and Ethnic Wear

  • Eyecare: Aims for ₹2,000 crore in revenue by FY27 with an 11-13% EBIT margin. Plans to expand in the sunglasses market and revamp store layouts.
  • Taneira (Ethnic Wear): Targets ₹1,000 crore in revenue by FY27, planning to expand from 74 to 180-200 stores.

Positive Outlook

Analysts at Motilal Oswal are optimistic about Titan’s diverse portfolio and potential for growth, driven by expanding customer bases and new market opportunities. For FY24, Titan’s total income grew 23% to ₹47,501 crore, with a consolidated net profit increase of 7.4% to ₹3,496 crore.


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