Demand is rising in some international locations
Titan MD C.Okay. Venkataraman says his abroad presence will enhance within the subsequent 2-3 years. Really, nowadays the prosperity of Indian Diaspora is rising in North American and Gulf international locations. The common annual revenue of individuals in these international locations at current is $60,000. But when we take a look at the revenue of Indians, it’s sitting shut to 1 lakh {dollars}. Increased revenue means they’ve extra money to spend. In such a scenario, Titan is seeing a positive market in these international locations.
Emphasis might be on Tanishq
Titer has launched the Tanishq model for the enterprise of gold and diamond jewelry. Venkataraman says that within the showrooms that may open in North America and Gulf international locations, the emphasis might be on Tanishq. They are saying that whether or not it’s a matter of gold jewelery or diamond jewelry, Tanishq has no match in high quality. Right now the main focus can be on Tanishq’s ethnic jewelry. Such jewelery may be very a lot preferred by Indians residing overseas.
reached gulf international locations
On the abroad enlargement of Titan’s model Tanishq, Venkataraman mentioned that Titan has already opened a couple of shops in Dubai. Within the subsequent one yr, a couple of extra shops will open in Abu Dhabi and Dubai within the United Arab Emirates. If North American international locations and Gulf international locations are added, then 20 to 30 extra shops might be opened within the subsequent two to a few years. He says that there are different plans for shops in these international locations, which might be revealed when the time comes.
Gross sales may also enhance within the home market
Titan believes that the financial system has grow to be regular in India too. The lower within the expenditure made by the individuals throughout the Corona interval is now negligible. Subsequently, now the gross sales of Titan will enhance within the home market as effectively. On the query of how a lot gross sales are anticipated in gross sales, Venkataraman says that general there might be a rise of 15 to twenty p.c. Venkataraman mentioned “Now everyone seems to be extra assured about their life. If we take a look at the final two years’ knowledge, Indian households have saved a considerable quantity by not spending cash throughout the pandemic. Now they may spend it “
whose firm is titan
By the way in which, individuals perceive that Titan is a Tata Group firm. Only a few individuals know that Tamil Nadu authorities additionally has stake on this firm. Really this firm is a three way partnership between Tata Group and Tamil Nadu Industrial Improvement Company (TIDCO). This firm manufactures watches underneath the model identify of Titan. It is usually the proprietor of the favored jewelery model Tanishq. The corporate did a enterprise of Rs 275456 crore throughout the monetary yr ended March 31, 2022. Of this, about 88 per cent gross sales had been from jewelry.
Supply: navbharattimes.indiatimes.com
: Language Inputs
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