Jewellery Drives Domestic Growth; Festive and Akshaya Tritiya Demand Holds Up
The jewellery segment was the primary growth driver, posting 39% YoY revenue growth for the quarter. Within jewellery, the Tanishq, Mia, Zoya and beYon portfolio grew 39% YoY with 22 net store additions, taking the count to 846 outlets. CaratLane grew slightly faster at 42% YoY, adding 11 stores to reach 381 locations.
The update attributed jewellery growth to healthy festive demand and strong Akshaya Tritiya sales during the quarter. Against a backdrop of relatively stable gold prices, buyer growth came in at early double-digits while average ticket sizes expanded in high double-digits, a combination that drove revenue ahead without requiring a significant increase in the volume of transactions. Plain and studded jewellery categories each grew individually in the mid-thirties and the coins segment continued its investment-driven momentum with strong double-digit growth through the period.
Watches Grow on Premiumisation; Smartwatch Segment Softens
The watches division grew 23% YoY in Q1FY27, adding 34 net stores to take the total count to 1,345. Growth within the segment was led by analog watches, which benefited from continuing premiumisation trends and delivered expansion in the high twenties. The smartwatches business, however, declined in the low teens; a segment-level softness that has been visible across the consumer electronics space as the initial wave of smartwatch adoption has moderated. The net result was overall watches division growth in the high twenties on the analog side, pulling the blended figure to 23%.
EyeCare and Emerging Businesses Contribute Steadily
EyeCare delivered 23% YoY growth in Q1FY27, supported by broad-based momentum across both owned and international brands. The division added 7 net stores to reach 847 outlets. The company attributed the performance to calibrated marketing investments focused on encouraging multi-pair and multi-category purchases, alongside a premiumisation push across the product portfolio.
Emerging Businesses grew 19% YoY in Q1FY27, with 2 net store additions taking the count to 98. Within the portfolio, the Fragrances business grew in mid-teens, Women's Bags delivered strong double-digit growth and Taneira, the sarees and ethnic wear format, grew in low single-digits for the quarter.
International Business Up 128% YoY, Aided by Damas Consolidation
The international segment posted 128% YoY revenue growth in Q1FY27, with one net store addition taking total international outlets to 163. The sharp growth rate reflects the consolidation of the Damas Jewellery business into Titan's financials from January 2026, a factor that has materially altered the base comparison for international revenues. Excluding this consolidation effect, the core international portfolio saw encouraging trends, with the combined Tanishq, Mia and CaratLane businesses recording double-digit growth in the GCC and strong traction in North America. The Damas business itself is witnessing a gradual recovery across key parameters despite the volatile geopolitical environment in the region during April 2026.
About Titan Company
Titan Company Limited is one of India's largest consumer goods companies with businesses spanning jewellery, watches, eyewear, fragrances and accessories. Its jewellery brands — Tanishq, Mia, Zoya, beYon and CaratLane-operate across India, the Middle East, the United States and the United Kingdom. The company is a subsidiary of Tata Sons. Detailed financial results for Q1FY27, including revenue, margins and profitability, will be disclosed separately.
