Bangalore, 7 July
Tata Group’s Titan Company Limited has registered a significant sales growth of 205 per cent (YoY) in Q1 FY23 and witnessed a three-year compound annual growth rate (CAGR) of 20.5 per cent over Q1FY20. The company continued to scale its network expansion well throughout the quarter, adding 245 new stores across the country, the company said in its Q1 FY23 results.
For the quarter, except Titan Engineering & Automation Ltd (TEAL), all its verticals posted over 100 per cent growth, with Automation Solutions (AS) and Aerospace & Defense (both divisions) registering 35 per cent growth (YoY). ) was observed. AD) is growing in line with overall revenue.
The watch and wearables division achieved the highest ever quarterly revenue in Q1FY23 with a growth of 158 per cent (YoY) across all its brands and products, the company said. For the eye care division, the company registered a growth of 176 per cent (YoY) with 56 new stores added for the quarter in the cities of Bengaluru, Kolkata and Chennai.
The revenue of the jewelery division nearly tripled with a growth of 207 per cent. Walk-ins and buyers both grew in line with revenue while ticket sizes improved marginally as compared to Q1FY22. “All other segments – business, LFS and e-commerce channels contributed to 271 per cent annual growth for the division. Individually, fragrances grew by 262 percent (YoY), while fashion accessories grew by 293 percent (YoY).
Titan is an Indian luxury products company that manufactures fashion accessories including jewellery, watches and eyewear.
Published on
July 07, 2022