Titan Says Festive Jewelry Sales Growth Sustained Post Season

A fall in gold prices has helped retain buying interest even after the festival season, Titan Co.'s jewelry division CEO Ajoy Chawla said at a press conference. Benchmark gold futures in India have slid almost 15% since reaching a record high in August.
Titan Jewelry Business Grows 15% Y/y in 30-Day Festive Season. Wedding jewelry purchases contributed to 24% of Titan's total business this quarter and were at comparable levels with a year earlier; co. will look to further grow that share next year ..
Some customers deferring purchases due to virus uncertainty and fluctuation in gold price; ensuring safe transactions for all consumers are key challenges for company currently Sales in lower than 50,000 rupees categories remain sluggish while sales above Rs100,000 doing well.
Titan offers consumers a new plan to buy gold jewelry for weddings in systematic manner by investing a minimum Rs20,000 in monthly installments
"The division continued to see a significantly higher share of gold coin sales and very good growth in wedding jewellery sales. Ticket size continues to be higher due to higher gold rates and higher share of wedding related products but 100% recovery in buyers (number of invoices) is yet to be seen," the company said in its quarterly update.