- 26 Aug 2022
- ICICIdirect Research
Titan expecting strong domestic festive demand and also set to expand international retail footprintTITAN - 2497 Change: 3.45 (0.14 %)
News: As per media reports, Titan is planning to take its jewellery brand Tanishq to the US and other West Asian markets as part of its long-term strategy to tap into the demand from large Indian diaspora and Non-Indian Resident (NRIs) communities. On the domestic front the company expects the demand to be driven ensuing festive season with consolidated YoY revenue growth of around 15-20%.
View: Tanishq had opened its first international store in November 2020 in Dubai and currently has four stores at international locations. The company is planning to open 20-30 stores in the next 2-3 years in North America and West Asia which would enable it to serve the vast diaspora of people of Indian origin residing in these international locations. On the domestic retail front, the company is expecting a strong festive season and is planning to adopt a combination of product innovations, new launches and marketing investments besides promotional offers to capture the expected demand.