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Monday, 28th April 2008 (3557 views)

Indian watch and jewellery retailer Titan Industries is forecasted to post a 65 per cent rise in jewellery sales this year compared to figures for the last 12 months, according to reports.

News service Reuters says a poll of brokerages found that the group, which owns high-end jewellery house Tanishq, is expected to see a 60 per cent increase in its profits for the first quarter of the year and a 21 per cent growth in year-on-year jewellery sales.

Analysts added that Titan is predicted to report a net profit of 492 million rupees (£6.15 million), with net sales up 38 per cent to 8.23 billion rupees.

They believe much of the growth will be down to increased sales of "top-end" products, such as luxury watches, the news site said.

Titan currently owns 236 World of Titan watch stores, as well as 107 Tanishq outlets and 16 Gold Plus retail premises, it added.

The Tanishq brand of jewellery recently launched a range of 22ct gold jewellery based on the traditionally-designed pieces it created for the hit Bollywood film Jodhaa Akbar.

 

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