Titan Company Limited is gearing up to unveil an exclusive, invite-only jewellery store in a move reflecting India’s growing appetite for luxury. This opulent venture, nestled in Delhi’s upscale South Extension market, will showcase pieces starting at a staggering ₹10 lakh.
What to know? This strategic decision by Titan, a jewel in the Tata Group’s crown, aligns with the current trend where Indian consumer brands are leaning towards premium offerings, targeting the elite segment of the market. The company’s recent performance, boasting double-digit growth in both clientele and ticket sizes, underscores the robust demand for high-end jewellery.
Sources close to the Economic Times reveal that this sprawling 17,000 sq ft store will rank among India’s largest jewellery outlets. Interestingly, Titan already operates a 10,000 sq ft store nearby. While the company remains tight-lipped about this ambitious project, insiders hint at the possibility of replicating this luxury model in other Indian cities.
India’s jewellery market is evolving: The broader jewellery market in India is witnessing a fascinating shift. Organized retailers like Titan are outpacing their smaller counterparts, with many consumers gravitating towards trusted brands. This shift is further validated by ICICI Securities, which suggests that the jewellery sector, buoyed by non-negotiable wedding purchases, might remain resilient even during economic downturns.
In a testament to its aggressive expansion, Titan introduced 10 new Tanishq stores last quarter, marking its footprint even in West Asia. With 436 active Tanishq outlets, the company aims to touch the 470-store mark by this fiscal year-end.
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