- 05 Jul 2022
- ICICIdirect Research
TITAN EYES POSITIVE CONTINUANCE OF GROWTH MOMENTUM IN MEDIUM TERM ACROSS PRODUCT SEGMENTS
TITAN - 3767 Change: 2.75 (0.07 %)News: As per its latest annual report, Titan Company has said the outlook for its jewellery division in FY23 and mid-term is positive with excellent growth opportunity helped by multi-pronged efforts within the wedding market along with strong growth opportunities in other consumption categories like watches and wearables
Views: Titan has a strong brand presence in the Indian jewellery industry. Titan continues to gain market share amid increasing competitive advantage and brand preference. The jewellery division is continuing to push many levers for growth like increasing share in regional markets where Titan's market share is lower than its national average. Also, the company is focusing on enhancing the share of wedding jewellery. The industry is expected to see a disruption-free first quarter that has Akshaya Tritiya and a strong wedding season after two years of pandemic-led lockdowns. The company is also looking to tap jewellery demand from the Indian diaspora in international locations with plans to expand retail footprint in multiple locations in West Asia and North America. Among other product categories, Titan is expecting strong traction in the watches and wearables segment. The pipeline of wearable products for the coming few quarters is strong with new products under Titan and Fast Track brands. In the watches and wearables division, Titan is also planning to launch more products in the rapidly expanding hearables or audio accessories space
Impact: Positive