Titan Company’s jewellery division remains bullish on growth, regardless of the fluctuations in the gold prices. Ajoy Chawla, CEO of the Jewellery Division at Titan, told businessline that the company remains focused on growth, regardless of fluctuations in gold prices.
Gold prices, which stood at around ₹4,400 per 10 grams in 2000 (as per BankBazaar data), have crossed ₹1 lakh as of April 22, 2025. Despite this, he explained that the company has observed growth higher-value segments. “Titan is observing divergent buying patterns- at sub-₹1 lakh price points, demand has remained stagnant, while for higher-ticket purchases, which includes ₹1.5 lakh and above, buyer interest continues to grow, especially for wedding or occasion-led buying.”
Coins and studded jewellery lead growth
Gold coin sales have been a bright spot, Chawla said, which recorded a 65 per cent year-on-year (YoY) jump in Q4FY25, while plain gold jewellery saw a growth of around 27 per cent, underlining a continued preference for gold as both a decorative item and a financial asset. “
Titan expands karatage offerings to drive affordability
To cater to evolving market needs, Titan is now expanding its product mix in terms of karatage. Traditionally offering 22-carat jewellery in Tanishq for weddings and festive wear, the brand is now seeing demand for 18-carat plain gold jewellery—especially in northern and eastern India. “We have introduced 18-carat wedding wear collections and are also seeing good response to lightweight 18-carat pieces,” Chawla added. Titan is now looking to scale its 18-carat offerings across both its Tanishq and Mia brands. While 9 and 14-carat options have been available in studded jewellery through CaratLane and Mia, the company’s move to widen karatage in plain gold could open new growth opportunities.
The company, in its quarterly business update, noted that its domestic jewellery division grew by approximately 24 per cent y-o-y driven largely by the surge in gold prices. While buyer growth remained in single digits due to price-sensitive segments holding back, the overall performance was buoyed by strong double-digit growth in ticket sizes, it said.
Published on April 23, 2025
