Tata to triple Zoya stores by 2027 as India's new rich fuel brand expansion

India’s expected surge of rich consumers is driving the jewelry unit of Indian conglomerate Tata Group to triple its Zoya-branded stores by 2027.
 

“There is a lot of latent demand for luxury from India and high net-worth individuals are going to explode,” Ajoy Chawla, the chief executive officer of Titan Co., India’s biggest jeweler, said in an interview. “This is just the beginning for luxury.”

Titan gets about 90% of its revenue from the sale of jewelry and the rest from watches, eyewear and perfumes. It has four jewelry brands under its umbrella: flagship Tanishq, working women-focused Mia, online sales