Titan defers launch of jewellery collections, expects demand to be muted

Company says Covid-19 situation to adversely affect profitability during the first half of this year

Due to the lockdowns and restrictions imposed on economic activities to prevent Covid-19 spread, jewellery-to-watches maker Titan has deferred the launch of two of its jewellery collections till a time that most of the stores are re-opened.

While the company has opened around 43 per cent of its stores across all businesses till date, all the mall stores continue to be closed, said the Bengaluru-headquartered company in a BSE filing on Tuesday. “Based on representations being made by various industry associations, the company is hopeful that malls will also be opened in the next few weeks in non-containment zones along