Titan launches exclusive invite-only jewelry store in Delhi to cater to high end demand

Titan is set to unveil an exclusive invite-only retail store catering to luxury jewellery enthusiasts, with a minimum ticket size of ₹10 lakh.

This move reflects the ongoing trend among Indian consumer companies to cater to the high-end market demand. Titan has secured a sprawling 17,000 sq ft space in Delhi's South Extension market for this opulent venture. Sources indicate that the company is conducting a pilot for this upscale format in the national capital, with potential plans for replication in other parts of the country.

The decision stems from Titan's performance in the market, with a significant increase in both buyers and ticket sizes during the September quarter, showcasing a robust demand for high-value products. Industry insiders revealed to the Economic Times that this new jewellery store would be one of the largest in the country, considering Titan's existing 10,000 sq ft store located nearby.

While Titan and property consultant Cushman & Wakefield, the deal advisor, have refrained from commenting on the development, market analysts have noted the exceptional growth in the organized jewellery retail sector since April. Consumers are increasingly shifting their preferences away from smaller jewellers, driving the growth of established brands like Titan, as per an ET report.

In the July-September quarter, Titan reported a 20% surge in domestic jewellery sales compared to the previous year. In September alone, the jewellery segment exhibited a 13% year-on-year growth, outpacing the overall retail sector's 9% expansion.

Amid this expansion, Titan expanded its footprint with the addition of 10 Tanishq stores during the July-September period, marking the company's proactive approach to cater to the evolving market demands. The brand also expanded internationally, entering Qatar and opening new boutiques in Doha, showcasing its global ambitions.

The Delhi-National Capital Region has witnessed a significant uptick in retail space uptake across malls and markets, indicating the robust growth of the retail sector.

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