Titan added a total of 61 stores during the quarter, expanding its combined retail network presence to 3,096 stores.
The company's jewellery domestic operations grew 8% YoY. The week of Akshaya Tritiya witnessed double-digit growths (in Tanishq secondary sales) compared to the same period last year.
However, high gold prices (20% growth YoY) and their continued firmness had an impact on consumer demand. Coupled with lower wedding days, overall sentiments were relatively muted in comparison to Q1 FY24.
Domestic growth came largely through increase in average selling prices whereas buyer growth was in low single digits. Gold (plain) grew in high single digits while studded growth was moderately lower in comparison, said the firm.
During the quarter, Tanishq added a new s...
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