Titan eyes record festive sales as gold exchange gains traction: Arun Narayan
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Titan expects record festive sales as gold prices fell to a seven-to-eight-month low.
- ✓CEO Arun Narayan said, "We are hopeful of this run-up towards Dhanteras to be an all-time high." Many customers now use the gold exchange channel, which accounts for over 50% of transactions at its jewellery stores.
Story at a Glance
- Category
- Indian Markets
- Reported By
- CNBC TV18
- Reading Speed
- 2 Minute(s)
- Market Focus
- India Economy
Titan is projecting record sales in the run-up to Dhanteras, driven by softer gold prices and a growing shift in consumer behaviour towards exchanging old gold. More than 50% of transactions at its stores are now routed through the gold exchange channel, according to Arun Narayan, CEO of the Jewellery Division at Titan Company.
The festive season began on an encouraging note, but volatility in gold prices initially prompted some buyers to defer purchases. Prices softened towards the end of last week, falling to a seven-to-eight-month low and bringing a significant number of customers back to stores.
"We expect the next seven days to be similar. So, we are hopeful of this run-up towards Dhanteras to be an all-time high," Narayan said.
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