Titan Expect growth in jewellery segment by 15% in Financial Year 2017

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Titan recently acquired caratlane and is one of the leading companies in online jewellery segment. The titan is expecting this year a growth of the company by 15%. The chief financial officer of Titan Company is expecting to drive the company’s growth significantly. Titan is a significant part of TATA group. Last fiscal year, company faced declination in net profit by 14.4% in fourth quarter. Total net profit was around Rs 184.11 crore. The jewelers strike results in the lower sales apparently loss to the company. The CFO of the company is expecting growth in the sales by 15 percent and is hoping the festival Akshay Tritya will boost the sale of the company this financial year. Their watch segment is not performing as well as expected. The company for its watch segment hasted a end of season sale to clean up the old products and bring its inventory down to desirable levels. The watch segment is expected to grow by 6-7% in financial year 2017. Talking on the company’s recent acquisition, Subramaniam said CaratLane, the leader in online jewellery segment, is expected to drive the company’s growth significantly. Though CaratLane is a loss making company, he expects it to be profitable in the near-term.

 

 

 

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