Deloitte’s Global Powers of Luxury Goods 2019 states that Titan, PC Jeweller, and Joyalukkas are amongst the list of 20 fastest growing luxury goods global companies, According to the report, Titan had a sales growth of 23.6 per cent in the financial year 2017 and a CAGR of 19.7 per cent between the financial year 2015-17, emerging as the fourth fastest growing global luxury goods company.
Despite the recent slowdown of economic growth globally, major markets including China, the Eurozone, and the US, the top 100 luxury goods companies generated revenues of USD 247 billion in the fiscal year 2017, representing a growth of 10.8 per cent.
According to the report, mergers and acquisitions, continue to play an important role, especially to adopt the bricks and clicks strategy.
Titan recorded high sales performance in its retail segment was attributed to new stores, new brand launches, and robust e-commerce performance through its website.
