Jewelery and watch retailer Titan Company Limited plans to grow its core jewelery business 2.5 times by FY2027 and expand its ethnic wear business Tanera and women’s bags under the Fastrack brand. 1,000 crore each in the same period.
the company told 23,268 crore revenue in FY22.
India’s largest organized jewelery retailer operates various jewelery brands including Tanishq which is the largest along with Zoya, Mia and Caratlane. During an investor presentation ahead of its annual Investor and Analyst Forum held in Mumbai on May 13, it plans to open over 600 jewelery stores across 300 cities in three years.
In the case of jewellery, the company pointed to the huge headroom to grow in a geographically fragmented market. The company will “pursuit multiple segments” and increase its share in weddings and solitaire. It plans to double the number of stores for its low-cost jewelery brand Miya with revenue topping from the current 275 to 550 by FY25. 2,000 crore in the same period.
In FY22, the company’s jewelery segment accounted for 88% of its business.
Titan Company deals in segments such as Jewellery, Ethnic Wear, Eyewear, Watches & Wearables, Fragrances and Bags. In all, the company operates 2,178 stores in various formats in over 330 cities. For the 12 months ended March 31, the company reported 27,456 crore in standalone revenue.
Titan also has an ambitious plan to expand the scope of some of its new businesses. It plans to grow its ethnic wear business, which currently operates under the saree brand Tanira. The company is eyeing an omni-channel presence along with 125 stores by FY27. Its goal. to achieve more than 1,000 crore sales targeting young sari-wearing consumers.
The company plans to expand its women’s bag business under its popular watch brand Fastrack. 1,000 crore till FY27. It aims to sell 3.5 million pieces in the same period.
company generated It is said that since the launch of the initiative, there have been sales of Rs 900 crore through video commerce.
In its watches and wearables business, the company plans to acquire 10,000 crore in business by 2025-26. Of this, around 70% will come from the watches segment and the rest will come from wearables, it said in its presentation.