How is Titan Jewelry adapting to volatile gold prices?

Titan is leveraging gold exchange programs, offering wider price options, and increasing its focus on natural diamonds to sustain growth amidst volatile gold prices.

What is Titan's strategy for store expansion and upgrades?

Titan plans to open 30-40 new stores annually in India and upgrade 50-70 existing stores to enhance customer experience.

How is Titan promoting natural diamonds?

Titan is setting up diamond expertise centers in Tanishq stores for authentication and customer education, and has launched the 'Soulmate Diamond Pair' engagement rings.

Home / Business and Economy / Titan Jewelry Bets on Exchange, Diamonds Amid Gold Volatility

Titan Jewelry Bets on Exchange, Diamonds Amid Gold Volatility

10 Feb

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Summary

Titan will open 30-40 new stores annually, revamping 50-70 others.
Half of Tanishq purchases now involve gold exchange due to high prices.
Diamond expertise centers with authentication equipment are planned.

Titan Jewelry Bets on Exchange, Diamonds Amid Gold Volatility

Titan Company's jewelry division remains optimistic about demand despite fluctuating gold prices. The company is actively implementing strategies such as promoting gold exchange programs and offering a wider array of price points to stimulate growth. Arun Narayan, CEO of Titan's Jewellery business, noted that significant gold price swings have altered consumer behavior rather than reducing demand. Wedding shoppers are accelerating purchases due to concerns about further price increases, while foot traffic in stores rises when prices dip.

Elevated gold prices have notably boosted the exchange of old jewelry for new, with approximately half of all Tanishq purchases now involving some form of exchange. This initiative is credited with re-engaging hesitant customers and sustaining jewelry demand even at higher gold valuations. To enhance accessibility, Titan is introducing monthly gold purchase plans, lightweight designs, and a broader selection of diamond jewelry.