Titan's Q3 update: 22-23% growth in jewellery sales, strong store expansion

Store additions also looked healthy, with 21 net new Tanishq stores opened in Q3, taking the total Tanishq count to 466 (+43 in 9 months of FY24)

Titan’s October-December quarter (Q3) business update claims 22-23 per cent revenue growth in the standalone jewellery sales (excluding bullion sales), implying a 4-year compounded annual growth rate (CAGR) of 21.3 per cent. Store additions also looked healthy, with 21 new Tanishq stores opened in Q3, taking the total count to 466 (+43 in 9 months of FY24) including 2 in the US and 1 in Singapore. Titan added 90 stores in Q3, pushing its total retail outlets to 2,949 stores (including Caratlane). Mia opened its first store in Dubai, taking its international footprint to 14 stores.

The jewellery revenue was