Tanishq sees 50% growth this Akshay Tritiya

MUMBAI: Titan has said that its jewellery division, the Tanishq brand, witnessed good sales growth this Akshay Tritiya over the year-ago period.

“The year (April 2017-Mar 18) started off for the division with a great Akshay Tritiya (50% growth over the previous AT period) as well as a very successful gold exchange programme in June, 2017.

“The excise duty related strike had extended into first 15-20 days of Q1 FY 16-17 and hence the base for Q1 FY 17-18 is also more favourable to that extent. The company saw very good retail growth in June, thanks to the exchange programme, resulting in an exceptional growth on top line for the division,”
Titan said in a quarterly update to the stock exchanges.

It added that GST rate pegged at 3% should not create any disruption in sales as well as gold exchange.