Titan Company to expand jewellery market share; grow emerging businesses

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₹38,353 crore.Currently, Titan operates 464 Tanishq stores across 270 towns. In the past three years, it has added 110 new Tanishq and 140 Mia stores.

CaratLane's goal for FY27 includes expanding to 425 stores in more than 200 towns; it currently operates 272 stores. The company also plans to double its revenue for its lightweight jewellery brand Mia over the next three years.For the jewellery division, it plans to expand its margin in the range of 11.5%-12.5%.Meanwhile, the company also outlined plans to triple volumes in emerging business such as wearables, women’s bags and ethnic wear by FY27, the company said in the presentation.

In the mid-term it is eyeing growth rates of 30-40% for the emerging business.Over the medium-term the company has kept a guidance of achieving 15-20% growth for its core-business (jewellery, watches, eycare) and 30-40% growth for the emerging business—wearables, Taneira (ethnic wear brand), international, fragrance and bags.The company’s plans come as it has undertaken measures to improve footfall and product range across categories such as eyewear and ethnic wear divisions.For its eyecare division it has set a target to achieve a top line of ₹2,000 crore by FY27 with an 11-13% Ebit margin. In its presentation, the company said it is planning a bigger play in the sunglasses market apart from bringing price parity in the affordable fashion and economy eyewear segment, and focusing on the top 108 stores.

In FY24, the company’s eyecare division recorded a total income growth of 5% to ₹724 crore.“Titan is launching premium sunglass retail under a new 'Runway' format and revamping its store layouts, with high-end stores requiring an investment of ₹3o lakh each. Titan is investing ₹30 crore in