Rising gold prices have increased consumer interest in both gold and studded jewellery categories, with demand remaining strong across age groups and customer segments, said Titan Company Managing Director Ajoy Chawla.
Speaking during an earnings call, he said precious jewellery continues to attract buyers not only as an aspirational purchase but also as a long-term store of value.
According to him, consumers have gradually adjusted to elevated gold prices, while the recent moderation in rates has encouraged buyers to return to stores.
Taneira Under Review
On the company’s ethnic wear brand Taneira, Chawla said Titan is reviewing its store operating model through changes in merchandise mix, pricing and the overall customer value proposition.
The company is focusing on improving same-store sales growth, buyer additions, stock turns and sell-through ratios.
Titan is also working on expanding customer reach in the sub-₹10,000 category, with some initiatives expected to reflect in performance over the coming months.
Confident of double digit growth
Chief Financial Officer Ashok Sonthalia said the company remains confident of delivering 15-20% compounded annual growth over the next three to five years, although it has not provided specific guidance for FY27.
“Gold prices continue to play a significant role in product mix and margins. If gold prices remain at current levels, the business environment would remain manageable, but further increases may require additional efforts such as lightweight jewellery, mix re-engineering and increased focus on 18-carat and 14-carat jewellery,” he said.
Focus On New Jewellery Segments
Jewellery Division Chief Executive Officer Arun Narayan said the company is attempting to create a new growth segment through its “Hues” collection, which combines natural gemstones with gold jewellery.
He said Indian consumers are increasingly seeking design-led jewellery beyond traditional plain gold and studded ornaments. The new collection introduces natural gemstones sourced from different parts of the world to create new styles and product expressions.
The “Hues” range currently includes around 200 styles, with nearly half priced between ₹40,000 and ₹2.5 lakh, while premium offerings extend up to ₹10 lakh.
Narayan said Titan’s broader strategy remains centred on making jewellery both accessible and exciting for customers through exchange programmes, lightweight products, gram-based jewellery purchase plans and wider use of 18-carat and 14-carat designs.
Expansion Of Lab-Grown Diamond Format
On the company’s lab-grown diamond retail format beYon, Narayan said the business is still at an early stage with only two stores operational, though initial response has been encouraging, including during the Valentine’s season.
Titan plans to expand the format to around 10-12 stores across two to three cities before considering a wider national rollout.
He added that consumer sentiment continues to remain positive for jewellery purchases, with many buyers expecting gold prices to maintain their long-term upward trajectory.