Titan sees better recovery than expected on the back of jewellery sales

After suffering a complete erosion of sales in April due to Covid-19 lockdown, recovery for Titan has been better than originally foreseen on the back of higher share of wedding jewellery sales, good sales coming from GHS scheme, and investment-led demand leading to higher gold coin sales, said the company in a BSE filing on Tuesday.

So far, Titan has re-opened around 83 per cent of its stores across all businesses while the jewellery division has re-opened around 95 per cent of its Tanishq stores till date. 

“Revenue in May and June months were at slightly below 20 per cent and around