InvestorQ : How have been the Titan sales numbers during the Diwali festive season?
Archita Jajjoo made post

How have been the Titan sales numbers during the Diwali festive season?

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Niti Shenoi answered.
6 months ago
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It has been a good festive season for Titan with solid traction across all its key lines of business reporting 15% growth in its jewellery business during the Dussehra-Diwali season. In the Sep-20 quarter, Titan jewellery sales had fallen 2.3% yoy, so the festive season does bring cheer to Titan and its shareholders.

India’s festival season begins around Akshay Trithiya but gathers steam around Dussehra but peaks around Dhanteras, the first day of Diwali celebration. In addition, this festive season also happens to coincide with the auspicious wedding season which also fuels the demand for gold jewellery. Despite Bloomberg’s scepticism, jewellery firms are delighted.

Titan had a good month overall with its watches and wearable segment also getting a boost from festival demand. In both these businesses, the business is back to pre-COVID levels. In addition, the eyewear business also witnessed good traction in the festive season. In the Sep-20 quarter, revenues from watches and wearable was down 44% yoy, but the good news is the sharp recovery on sequential basis.

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