Titan eyes 7-8 percent jewellery market share by 2015

Kolkata, June 2 : Titan Industries is targeting a seven-eight percent share of the gold jewellery market by 2015, a top official of the Tata group company said here Wednesday.

"We are targeting to achieve 7-8 percent market share by 2015. We now have 4 percent market share in gold jewellery market," C.K. Venkataraman, chief operation officer, jewellery division of Titan Industries, said on the sidelines of a press meet.

The total size of the gold jewellery market in the country is around Rs.1 lakh crore.

Under its jewellery division, Titan has three brands - Tanishq, Zoya and Gold Plus. Tanishq, the oldest brand, has a more than 50 percent share in the branded gold jewellery market in the country.

Zoya is targeted at high networth individuals.

The company has aggressive expansion plans for its Gold Plus brand in the current fiscal (2010-11).

"We will look at tier I and tier II cities aggressively," Venkataraman said.

In the first two months (April and May) of the current fiscal, the jewellery division has clocked 30 percent growth in sales, he said.

In the last fiscal (2010-11) it has posted 27 percent growth in sales.

Titan hopes to maintain similar growth in jewellery sales in 2010-11 despite rising gold prices.

It has 130 jewellery retail outlets across the country.