Platinum’s rare nature gives it additional value and appeal

Huw Daniel is the CEO of Platinum Guild International, overseeing market development activities in China, Japan, India and the USA, on behalf of the platinum producers of South Africa. Before taking up this role in 2015, Huw ran PGI USA for 12 years...

13 september 2021

Marco Carniello: We want to continue to be the engine boosting the jewellery industry

Italian Exhibition Group (IEG) is a leader in Italy in the organisation of trade fairs and one of the main operators in the trade fair and conference sector at European level, with structures in Rimini and Vicenza, as well as further sites in...

06 september 2021

There is a significant need for smart and technological financial solutions in the diamond industry

MDPS, the Israeli start-up Fintech company from the Mazalit Group is gearing up to enter the diamond industry soon. Zeev Maimon, the CEO of MDPS is also the Founder / CEO of MAZALIT, a B2B payment platform designed and dedicated to the global diamond...

30 august 2021

The future for synthetics lies in that it has become possible to grow a stone you want and make what you want out of it

Alex Popov, President of the Moscow Diamond Exchange and head of the Âme jewelry brand, which uses lab-grown diamonds to produce jewelry, sat for an interview with Rough&Polished sharing his views on the coexistence of natural and man-made diamonds in...

23 august 2021

De Beers’ GemFair ropes in more than 160 Sierra Leone artisanal miners

De Beers inaugurated its GemFair pilot programme in Sierra Leone’s Kono District with 14-member mine sites in 2018 to create a secure route to market for ethically sourced artisanal and small-scale diamonds. GemFair programme manager Ruby Stocklin-Weinberg...

16 august 2021

Titan's 4Q Revenue +7%, Profit +12%

14 may 2014

Titan Company, the parent company of the Tanishq jewelry brand in India, reported that sales rose 7 percent year on year to $464.6 million (INR 27.86 billion) in the fourth quarter that ended on March 31. Company profit grew 12 percent to $34.4 million (INR 2.06 billion), while the company's expenses increased by 7 percent to $421.3 million (INR 25.27 billion), Rapaport reports.
Jewelry sales rose 3 percent to $358.4 million (INR 21.5 billion) during the quarter, while watch sales grew 20 percent to $83.6 million (INR 5.02 billion). Sales at Titan's other businesses, which include eyewear, precision engineering and accessories, jumped 13 percent to $24.4 million (INR 1.46 billion).
For the fiscal year that ended on March 31, Titan reported that net sales grew 8 percent to $1.8 billion (INR 108.15 billion) and profit increased 2 percent to $123.6 million (INR 7.41 billion).
Bhaskar Bhat, Titan's managing director, noted that the fiscal year was challenging due to a subdued economic environment and regulatory changes that impacted the company's jewelry business.
Jewelry sales increased 6 percent to $1.44 billion (INR 86.32 billion), watch sales grew 7 percent to $298.5 million (INR 17.91 billion) and sales from the company's other segments rose 21 percent to $83.3 million (INR 4.99 billion) for the year.
Titan expanded its retail network during the year with a total of 125 stores added across its watches, jewelry and eyewear businesses. The company ended the year with a total of 1,078 stores and 1.5 million square feet of retail space. Titan intends to invest in strategic initiatives as it moves into the new financial year coupled with aggressive expansion plans.