Titan Company had said on 6th April 2018 that its jewellery division had good sales growth in Q4 FY17-18 on the back of very successful diamond jewellery activation and more customer friendly revised gold exchange policy. The retail sales growth for the quarter was in mid-teens.
Titan said FY17-18 was the first year in the 2.5x journey and all the levels of growth have yielded excellent results. The division has also benefitted immensely from the expansion of its Gold Exchange Program which has, along with weddings, contributed significantly to new customer addition and average ticket size expansion.
The company said regulatory actions, drive against unaccounted wealth and developments on credit situation of jewellers could pose challenges for jewellery industry. The same situations will prove to be tail winds for organized corporate jewellers like Titan Company with strong balance sheets.