Titan stays upbeat on jewellery demand as gold swings push buyers to plan smarter

Titan Company’s jewellery business remains confident about demand even as gold prices stay volatile. The company is leaning on gold exchange programs, wider price options, and a stronger push into natural diamonds to support growth in the coming quarters.

Arun Narayan, CEO – Jewellery at Titan, said sharp swings in gold prices have changed buying behaviour rather than dampened demand. Wedding buyers, in particular, are advancing purchases amid fears of further price increases, while store footfalls rise whenever prices soften.

“Whenever there is a dip, you have more people in stores wanting to buy, and whenever it goes up a bit, you have people staying on the sidelines in the hope that it will come down,” Narayan said, adding that customer anxiety should ease once prices stabilise.



High gold prices have accelerated the trend of exchanging old jewellery for new. Around half of all purchases at Tanishq stores now involve some form of gold exchange. The company believes this has helped bring back customers who were earlier hesitant due to rising prices, while also supporting jewellery demand even at elevated gold levels.

Titan is also making jewellery more accessible through monthly gold buying plans, lightweight designs, lower-carat gold, and a wider range of diamond jewellery. These initiatives are expected to help sustain volumes even if gold prices remain firm.

Alongside gold, Titan is stepping up its focus on natural diamonds as part of its long-term growth strategy. The company plans to set up diamond expertise centres across Tanishq stores, with equipment to authenticate natural diamonds and explain quality parameters to customers.

“Very soon we would reach about 50 stores where we have equipment to authenticate natural diamonds,” Narayan said.

The company has also launched the “Soulmate Diamond Pair”, a pair of engagement rings created from the same rough diamond. This is part of Titan’s effort to build trust, transparency, and emotional appeal in the natural diamond category, especially during the Valentine and wedding seasons.

On the retail front, Titan plans steady domestic expansion, with 30–40 new stores opening every year. At the same time, the company is focusing heavily on upgrading existing outlets. Around 50–70 stores are expected to be upgraded annually, improving store size and customer experience, which management sees as a bigger growth driver than just adding new locations.

Internationally, Titan currently operates about 30 stores, mainly in North America and the Middle East. Expansion in these regions will continue in a calibrated manner, targeting markets with a strong Indian diaspora.

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