Titan's luxury jewellery brand ZOYA is targeting revenue of ₹500 crore in FY27, up from ₹400 crore in the previous financial year. According to Arun Narayan, CEO of the Jewellery Division at Titan, the brand has been growing at a healthy compound annual growth rate (CAGR) of over 30 per cent over the past three to five years. As reported by Business Standard, Narayan said the brand aims to reach this important landmark not only for ZOYA but also for the luxury space in India. The company plans to expand its store network from 14 to 17 stores to support this growth trajectory.
The executive expects the upcoming festive season to support jewellery demand, with Titan being very optimistic about the festive period and investing accordingly. Narayan said the company has seen great interest in consumers in buying jewellery and buying jewellery from their brands, giving them optimism about how the festive period is likely to pan out. According to Business Standard, the luxury jewellery market in India is growing at a healthy double-digit rate because it remains niche, with growth occurring both in value terms and customer base. The post-COVID K-shaped recovery has led to the top 1 per cent of India seeking newer ways to express personal prosperity through premium brands.
Beyond India, Titan is continuing to expand its international presence among the Indian diaspora. As reported by CNBC TV18, Tanishq recently opened its 11th boutique in Los Angeles and now operates 20 boutiques across Singapore and the Middle East. Narayan said the welcoming that they've received for their stores has left them with a sense of confidence to really expand and get closer to the diaspora in the Middle East and North America.
Speaking about ZOYA's customer dynamics, Narayan said a significant portion of ZOYA's business comes from customers who keep returning to the brand for its new collections. Many new customers also discover ZOYA because they resonate with what the brand stands for. According to Business Standard, the brand started with boutiques in Mumbai and Delhi and now has a very wide presence between boutiques and galleries across the country. The company plans to continue investing in brand expansion, design innovation and overseas growth while capitalising on favourable consumer demand during the festive and wedding seasons.
