In Jewellery, the company added 4 Tanishq stores and expects store opening to be more aggressive in H2FY18. However, net addition so far has been low as few stores are being closed.
In Watches business online sales have been robust. The division added 11 WOTs, 10 fast track and 12 Helios stores adding upto 15,000 sq feet.
In Eye Wear, growth has been healthy in Q2FY18 at the consumer price level. However, the net reported sales may be muted since the division decided to compensate the business associates for the increase in GST rates without taking a price hike in the quarter.
The division added 21 Titan Eye Plus stores in FY18, adding up to about 13,000 sq feet of retail space.
Titan is India’s leading player in branded jewellery, watches and precision eyewear. Its revenue consisted of Jewellery (78%), Watches (15%), Eyewear (3%) and others (4%) in FY17.
Titan Company Ltd is currently trading at Rs 571.6, down by Rs 4 or 0.69% from its previous closing of Rs 575.6 on the BSE.
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