News

Advanced Search

Titan Sales Rise over Indian Festivals

Jan 4, 2018 3:39 AM   By Rapaport News
Comment Comment Email Email Print Print Facebook Facebook Twitter Twitter Share Share


RAPAPORT... Titan Company’s jewelry sales grew by a “double-digit” percentage during India’s September and October festivals, the retailer said.

Dussehra and Diwali, two of the main holidays in the year, occurred in different fiscal quarters at the end of 2017, meaning related sales were split between the two reporting periods. However, this only had a limited impact on sales for the third fiscal quarter ending December 31, the company noted in a statement Tuesday.

“The retail growth for the quarter has been healthy and in line with internal management expectation[s], despite Dussehra being celebrated in the previous quarter,” the company explained.

In contrast, in 2016 both days fell in the third fiscal quarter, driving a rise in sales for the period even as the Indian government’s demonetization policy sapped liquidity from the market and hit demand.

Titan’s same-store sales of watches also increased during the third quarter amid a strong 2017 festival season, with online growth exceeding that of traditional sales channels, the company added.

Image: Kolkatan
Tags: Diwali, Dussehra, India, Indian Festivals, Jewelry, Rapaport News, Titan, Titan Company
Similar Articles
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First
© Copyright 1978-2022 by Rapaport USA Inc. All rights reserved. Index®, RapNet®, Rapaport®, PriceGrid™, Diamonds.Net™, and JNS®; are registered TradeMarks.
While the information presented is from sources we believe reliable, we do not guarantee the accuracy or validity of any information presented by Rapaport or the views expressed by users of our internet service.