Titan grows 20% in Q1 FY26, jewellery, watches lead the way
Titan opened 19 jewellery stores in the April-May-June quarter, including 9 of CaraLane, 7 of Mia, and 3 of Tanishq, respectively
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Fashion accessories manufacturer Titan Company registered a 20% year-on-year growth in the first quarter of fiscal year 2026. The maker of watches, jewellery, and eyewear products opened 10 new stores in the April to June quarter of FY2026, taking up the retail network presence to 3,222 as of 30 June 2025.
According to the company's filing, Titan's jewellery business, which includes brands like Tanishq, Mia, CaratLane, and TMZ, clocked 18% growth in the June quarter YoY, driven by gold price volatility affecting consumer sentiments.
The company said that the Akshaya Tritiya, which was held on 30 April 2025, led to positive traction. However, the gold price rise from May to mid-June subdued the demand for the yellow metal.
The buyers' growth remained flat for both TMZ and CaratLane as customers preferred lightweight and lower karatage jewellery due to the gold price hike, Titan's stock filing added.
Notably, demand for gold coins surged during the quarter, and plain gold saw a growth in mid-teens in Q1 FY26.
Titan opened 19 jewellery stores in the April-May-June quarter, including 9 of CaraLane, 7 of Mia, and 3 of Tanishq, respectively.
Titan also witnessed an uptick in growth in its watches segment in the domestic market in Q1 FY26. The watch's vertical clocked 23% YoY growth, led by analog, driven by both volume and value growth. Sonata led the growth charts, followed by Titan, Fastrack, and international brands, clocking double-digit growth, the filing mentioned.
The watches division added nine stores in the June quarter, comprising 4 stores in Titan World and five in Helios, respectively.
Titan EyeCare's domestic business grew by 12% YoY, fueled by performances across retail and e-commerce. "Titan Eye+ retail opened 12 new doors and closed 32 stores, resulting in 20 domestic store closures (net) for the quarter," according to the stock exchange filing.
The 'Fragrances' segment of Titan registered a 56% YoY growth, led by volume growth in SKINN brand and Fastrack. Additionally, women's bags grew 61% YoY, and Taneira saw a 15% YoY growth due to value growth in Sarees.
Internationally, Titan Company clocked 49% growth. Titan attributed the growth to its expansion strategy for the Tanishq business in the US market.
"The 1 new store addition (net) in the quarter consisted of Tanishq's and Titan Eye+'s one new store opening (each) in UAE in Dubai and Sharjah, respectively, and closure of 1 Mia store in the region.
However, shares of Titan fell by 5.18% to Rs 3,476 apiece on Tuesday morning at 10:44 am. According to brokerage firm Morgan Stanley, Titan's quarterly update was a 'big miss' on jewellery growth.
Emkay Global said that Titan saw growth moderation in Q1 with 17% growth in the jewellery business versus the recent trends of 25% growth.
