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By Malvika Gurung
Investing.com — The Indian luxurious merchandise firm Titan (NS:) has launched its up to date enterprise figures for the quarter ending March 2022, ending the monetary 12 months 2021-22 on a average be aware however a number of headwinds within the interval.
The Tata Group firm famous that its enterprise witnessed subdued exercise in high cities as a result of Omicron variant of Covid-19 in January, which rebounded in Feb, adopted by a pointy uptick within the costs of , as a result of Russia-Ukraine disaster.
The corporate additional acknowledged that regardless of decrease walk-ins within the March quarter, buyer conversions and ticket sizes within the interval rose on a YoY foundation.
Ace investor Rakesh Jhunjhunwala and his spouse Rekha Jhunjhunwala maintain a 5.09% stake within the Tata Group agency, as of December 31, 2021.
The watches and wearables phase confirmed good development momentum, rising 12% YoY in This fall FY22, including 34 new shops within the interval and 843 within the monetary 12 months.
Titan’s jewelry enterprise ended the risky March quarter on a muted be aware, with a powerful base benefitting from a big B2B order.
The corporate added 16 new jewelry shops throughout within the March quarter, commissioning 7 new Tanishq shops, 8 Mia by Tanishq and 1 Zaya retailer. In FY22, it added 444 such shops.
The eyecare phase climbed 5% on a YoY foundation within the ultimate quarter, with gross sales led by sun shades and frames. The division added 51 new shops within the quarter and 733 within the 12 months.
The community growth and campaigns have continued to progress effectively in anticipation of an upbeat Q1 FY23, which is predicted to be regular after a niche of two years of lockdowns in the identical interval, acknowledged the corporate.
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