Titan Company delivered a strong performance in the second quarter of FY27, with its consumer businesses recording around 25% year-on-year growth. Jewellery, watches and EyeCare were the main contributors, while the company also continued to expand its retail presence.
Titan added 78 net stores across its consumer businesses during the quarter. This took its total consumer retail network to 3,758 stores by the end of September 2026. Domestic consumer businesses grew by around 22% year-on-year.
Jewellery Business Continues to Lead
Jewellery remains Titan’s largest consumer business. Its brands, including Tanishq, Mia, Zoya and beYon, recorded around 21% year-on-year growth in Q2 FY27.
Demand stayed strong through most of the quarter. However, growth slowed slightly toward the end because some festive purchases shifted into the third quarter.
Studded jewellery performed particularly well, with growth in the early thirties. Titan linked this performance to its Festival of Diamonds campaign and various brand promotions.
Plain gold jewellery also delivered healthy growth of around 20% year-on-year.
The number of buyers increased in the mid-single digits, while average ticket sizes rose by double digits. This indicates that customers who made purchases were spending more. At the same time, investment-led coin demand declined at a high-single-digit rate compared with a strong base from the previous year.
Titan also continued to expand its jewellery store network. It added 42 jewellery stores during the quarter, taking the total to 1,269 outlets.
Tanishq, Mia, Zoya and beYon together reached 875 stores after adding 29 outlets, while CaratLane added 13 stores to reach 394 outlets.
Titan Watches Benefit From Premiumisation
Titan’s watches business grew around 30% year-on-year during Q2 FY27. Premium products continued to support the segment as customers showed interest in higher-value watches.
Analog watches reported growth in the early thirties. The smartwatch business also returned to growth, increasing by a high-single-digit percentage during the quarter.
Titan added 34 watch stores, taking its total watch retail network to 1,379 stores.
The performance highlights two different trends within the watches business. Traditional analog watches continue to benefit from premiumisation, while the smartwatch segment is showing signs of improvement after facing a tougher period.
EyeCare Delivers Healthy Growth
Titan’s EyeCare business recorded around 28% year-on-year growth in Q2 FY27.
The company credited the performance to its multi-brand approach, improvements in existing stores and a stronger product range.
Unlike the jewellery and watches businesses, EyeCare did not add any net stores during the quarter. Its retail network remained at 847 stores at the end of September.
This suggests that the growth was mainly driven by better performance from existing stores and improvements in the product offering rather than expansion through new outlets.
Emerging Businesses Maintain Momentum
Titan’s emerging businesses grew around 21% year-on-year during the quarter.
Fragrances were among the strongest performers, growing in the mid-thirties. The women’s bags category also recorded growth in the twenties.
Taneira delivered high-single-digit growth during the quarter and added one net store, taking its network to 99 outlets.
These businesses are becoming an increasingly important part of Titan’s overall growth strategy. They also help the company diversify beyond its traditional jewellery and watches operations.
International Jewellery Business Nearly Doubles
Titan’s international jewellery business was one of the strongest performers in Q2 FY27, with revenue growth of around 97% year-on-year.
The company said its Tanishq, Mia and CaratLane operations continued to see strong double-digit growth in North America.
The GCC market remained resilient despite geopolitical uncertainty, while Tanishq showed improving growth. Damas Jewellery also showed early signs of recovery.
Titan’s international retail network stood at 164 stores as of September 2026.
Damas Jewellery has been included in Titan’s financial results since January 2026 following the company’s acquisition of a 67% stake.
Retail Network Continues to Expand
Titan added 77 stores across its domestic consumer businesses during Q2, while the overall consumer-business network increased by 78 stores.
By the end of September 2026, Titan had 3,758 stores across its consumer businesses.
The continued expansion comes as the company enters the important festive period in Q3 FY27. This period could be particularly significant for the jewellery business because some festive demand that was expected in Q2 shifted into the following quarter.
What Titan’s Q2 FY27 Performance Means
Titan entered the second half of FY27 with growth across several major businesses.
- Jewellery: 21% year-on-year growth
- Watches: 30% year-on-year growth
- EyeCare: 28% year-on-year growth
- Emerging businesses: 21% year-on-year growth
- International jewellery: 97% year-on-year growth
- Consumer retail network: 3,758 stores
The results show that Titan is expanding beyond its traditional jewellery business while continuing to strengthen its core categories.
The shift in festive demand from Q2 to Q3 will be an important factor to watch in the coming quarter. Jewellery demand during the festive season could provide a clearer picture of the company’s consumer momentum.
Overall, Titan’s Q2 FY27 performance reflects a combination of strong category growth, premiumisation, retail expansion and international growth. The company is entering the second half of the financial year with multiple businesses contributing to its overall performance.
