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Remained steady in a market driven by economic shifts, changing gold prices, says Titan Company
In a market driven by economic shifts, changing gold prices and evolving customer preferences, Titan Company remained steady and crossed a revenue of ₹50,000 crore during financial year 2024-25, said the Tata Group firm, which manufactures fashion accessories, jewellery, watches and eyewear.
The year witnessed an increase in demand for daily-wear, lightweight gold pieces and bridal collections, even as diamond jewellery performance remained mixed, said Titan Company in its annual report released on Friday. The fiscal 2024-25 saw over 3 million customers purchasing jewellery from the brand.
Despite a challenging start to the year due to a subdued wedding season and external factors like elections, the business picked up momentum following a reduction in customs duty in July 2024. The latter half of the year witnessed strong festive and wedding demand, said the company.
Titan Company further said it responded to gold price fluctuations with proactive bullion management, and this included intelligent use of Gold on Lease and stringent controls on inventory without compromising on the product variety of availability.
The fashion accessory player also said the introduction of 18 karat collections and investment-focused offerings helped the company address both sentiment and affordability, particularly in price-sensitive segments.
Titan Company's gold exchange programme continued to be a strong driver of footfall, it said, adding, during the year, more than 8 lakh customers exchanged over 18 tonne of gold. Savings-led products through the launch of the Rivaah Golden Advantage plan and Golden Harvest offered customers a dependable way to plan their jewellery purchases in an environment of volatile gold prices, claimed the company.
Commenting on the company's Environmental, Social, and Governance (ESG) initiatives, C. K. Venkataraman, Managing Director, said Through the Pragati programme, which seeks to help Titan play out its responsibilities to the Planet as well as the People, the company would strengthen its thrust towards Net zero carbon, reducing fresh water consumption, Afforestation, Partner responsibility, DEI (diversity, equity and inclusion,) Community responsibility, Ethics and governance.
