Pent up demand seen for wedding jewellery
Good recovery seen in Watches and Eyewear segment
Titan's recovery has been better than expected for the October to December quarter. For Q3FY21, we expect Titan's revenue to grow ~13 per cent on a Year on Year basis, on account of sharper recovery in jewellery segment.
The Jewellery segment which accounts for around 80 per cent of their revenue is back in the growth phase and expected to grow at ~15 per cent YoY. The growth in the segment is aided by the 32 per cent YoY gold price hike, pent-up buying during the festive season and strong demand for wedding jewellery. The share of studded jewellery is expected to improve.