Titan Expands Jewelry Empire: CaratLane Set for US Debut in FY25

Titan Caratlane
Preeti Bali / 1:07 pm / March 22, 2024

Indian watch and jewelry giant Titan is poised to introduce its CaratLane jewelry line to the US market in FY25, according to Managing Director CK Venkataraman. This strategic move is designed to cater to the growing demand for exquisite jewelry among the Indian diaspora residing in the United States.

International Expansion for Tanishq

Titan is simultaneously amplifying its global reach through the expansion of its established Tanishq brand. The company aims to establish a significant international presence by opening 40 stores outside India by the end of FY25. This ambitious expansion plan signifies a remarkable leap forward, considering Titan had no international stores prior to September 2020.

Tanishq’s Global Journey Begins

Tanishq initiated its international expansion with the opening of its first flagship store in Dubai’s Meena Bazaar in October 2020. The brand further extended its footprint by opening a store in New Jersey’s Little India in January 2023.

Focus on Key Markets

Titan’s international expansion strategy prioritizes regions with a sizeable Indian diaspora, including the GCC countries, Singapore, the US, Canada, the UK, and Australia.

Strong Domestic Performance Fuels Expansion

Titan’s bold international expansion plans are fueled by the robust performance of its domestic jewelry segment. The jewelry division of the company saw a notable 23% growth in total income during the December quarter of FY24, hitting Rs 11,709 crores.

This impressive growth was primarily driven by a 21% surge in the Indian market, supported by robust double-digit buyer growth during the festive season, even amidst high gold prices.

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