Retail behemoth Titan Company is planning to widen its customer base through more affordable products, as it seeks to sustain growth without relying on rising gold prices to lift sales.
Buyer growth in Titan’s jewellery (Tanishq, Mia, and Zoya) division was flat in the second quarter of FY27, compared with 5 per cent in the first quarter. The company attributed the moderation partly to a shift in the festive calendar and lower purchases of gold coins and investment products, Arun Narayan, Chief Executive Officer of the Jewellery Division, said during the post-earnings analyst call.
Management said higher gold prices had provided a cushion through increased ticket sizes, but this may not be sustainable.
“Heading forward, it is possible that we may not get the cushion of ticket size growth and gold rate growth. So therefore, buyer growth becomes the first and most important part of it,” Narayan added, speaking in a post-quarter analyst call.
The company is seeking to attract customers through a wider range of products priced below ₹1 lakh, particularly in the sub-₹50,000 segment.
Additionally, lightweight jewellery, 18-carat gold products for core jewellery and 14-carat studded offerings at Tanishq, as well as up to 9-carat jewellery at Mia, are expected to boost purchases.
“That is where lightweight jewellery, studded jewellery in 14 karat, gold jewellery in 18 karat, all those efforts are strategic efforts to make jewellery accessible,” Narayan said.
The company is also seeing higher buyer growth in studded jewellery. Younger consumers are entering the category through their first diamond purchases, while some traditional gold buyers are moving towards diamonds, Narayan said.
Managing Director Ajoy Chawla said stable or lower gold prices could bring back customers who had stayed away from the market.
“If gold prices remain corrected and stable, the chances are we will see many more customers coming into the market, especially those who had stayed away,” he said.
Titan is also relying on its gold exchange programme, store upgrades and network expansion to support customer acquisition.
The company posted a 114 per cent year-on-year (y-o-y) increase in net profit to ₹2,393 crore for the quarter. Meanwhile, total income was up 14 per cent to ₹21,430 crore in Q2 FY27.
The jewellery division, Titan’s largest business, reported a 24 per cent revenue increase to ₹17,495 crore. Its India business grew 21 per cent to ₹16,343 crore, with the combined Tanishq, Mia and Zoya portfolio registering a 20 per cent growth to ₹14,935 crore. CaratLane reported a stronger 31 per cent increase in revenue to ₹1,408 crore.
Published on November 15, 2026
