Titan Company reported growth in its watch and jewelry divisions in the second fiscal quarter, helped by collection launches and long-term sales campaigns.
The Indian jeweler brushed off challenges such as higher gold prices, the tightening of credit to the industry and fewer weddings than usual for the period, it said last week. The company has not yet released exact sales figures for the quarter, which ended September 30.
“While the watch business carried on its good run from the first [fiscal] quarter, the growth in the jewelry business picked up very well after a relatively soft growth in the [first fiscal quarter],” the company said last week.
Titan has opened 16 new stores under its Tanishq jewelry brand since the beginning of the financial year, it added.
Image: Diamond and gold ring. (Titan Company)