What will be the next growth kicker for Tanishq? Titan MD answers
CK Venkataraman, MD, Titan, says that when it comes to Tanishq, what is emerging is that we need to up our game in terms of the standards, the innovations, and the excellence that we play for us to continue to keep growing at the rate at which we have grown for a long time. It is a good situation to be in. It will pull out everything that we have in terms of our capabilities and strengths. So, we are looking forward to the exciting times that are around us and, in a way, increasing in multiple ways.
Though Q1 was not a blowout quarter for the jewelry market per se, demand was impacted by fewer wedding days and volatility in gold prices. Are things looking up now?
CK Venkataraman: Yes, July has certainly been better. Even Q1 had two parts to it. For the first half till Akshaya Tritiya, growth YoY was good. But after that, the balance of the quarter was when the challenge came, where multiple things like extreme heat, gold prices, election excitement, plus election-related pressures on the movement of gold and stuff like that, but July has certainly been better.
How much has the sale or uptick in July come largely because of the import duty cut?
CK Venkataraman: No, not, because we typically have what is called a festival of diamonds that started around the 10th of July this year. We started seeing better growth even before the Budget came. But of course, the Budget helped the gold jewelry business because that is where the impact of the budget was. So, right through July things were better.
Are you maintaining the
