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Titan's jewellery division reports significant sales growth in both sub ₹1 lakh and above ₹5 lakh segments, driven by India's robust wedding season demand.
India's vibrant wedding season heralds a period of prosperity for jewellers, and Titan Company Limited is no exception. The company has observed a marked increase in customer interest, particularly in the luxury jewellery segments priced below ₹1 lakh and above ₹5 lakh.
Titan's diverse offerings cater to a broad market spectrum, but recent trends show exceptional growth in high-end jewellery, including gold and studded pieces. The shift towards more expensive jewellery reflects a growing consumer appetite for luxury and customisation, which Titan has successfully tapped into.
With the festive and wedding seasons underway, the Indian jewellery market is bustling. The surge in demand is partly influenced by favourable market conditions, including competitive prices for gold, which is currently priced at $2,580 an ounce. These factors make it a suitable time for consumers to invest in jewellery, both for personal use and as gifts.
The recent success at the India International Jewellery Show (IIJS), where orders worth over ₹1 lakh crore were placed, underscores the industry's optimistic outlook. Jewellers across the board are gearing up for what could be one of the most lucrative seasons in recent years.
Jewellers are not just witnessing a rise in demand but are also observing changes in consumer preferences. There is a notable increase in both the number of buyers and the average purchase size, indicating robust market health and consumer confidence.
This season, Titan has strategically positioned itself to cater to the upper-middle-class segment, showing a keen interest in traditional and contemporary jewellery designs. The brand's ability to meet diverse consumer needs while maintaining high standards of craftsmanship has been key to its current success.
As the season progresses, Titan's focus will remain on leveraging these trends, ensuring that it continues to meet consumer expectations and strengthen its market position. The company's stock, listed as Titan's share price on exchanges, reflects investor confidence, mirroring the positive trends observed in the consumer market.
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