Titan Eyes US Debut for CaratLane in FY25, Plans 40 Tanishq Stores

21 Mar 2024 , 12:22 PM

Titan plans to introduce its CaratLane jewellery line in the US during FY25, as stated by the managing director, CK Venkataraman. The move aims to meet the growing demand among the Indian diaspora residing abroad.

The company aims to expand its Tanishq brand internationally and intends to open 40 stores outside India by the end of FY25. This ambitious expansion plan represents significant growth from zero international stores in September 2020.

Tanishq initiated its global presence by opening its first international store in Dubai’s Meena Bazaar in October 2020. Subsequently, the brand expanded to New Jersey’s Little India in January 2023.

Titan primarily targets the Indian diaspora in regions such as GCC countries, Singapore, the US, Canada, the UK, and Australia. In the December quarter of FY24, Titan’s Jewellery segment recorded a 23% increase in total income, reaching Rs 11,709 crores.

The growth was primarily driven by a 21% increase in the Indian business, supported by robust double-digit buyer growth during the festive season despite high gold prices.

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