Titan Co Ltd., a subsidiary of the Tata Group, which produces watches and jewelry, reported an increase in profit by 23.5% to $ 27.1 million in the second quarter of the current fiscal year compared to the same period last year. The growth was driven by an increase in margins, lower costs and sales during the holiday season. Titan's revenue slightly decreased, by 0.1%, to $ 399.8 million.
"It was a very good quarter for the company in respect of the profits. All the enterprises of the company registered revenue growth in the reporting quarter. The jewelry business showed activation of jewelry sales with precious stones, and hour division began selling their second smart watch JUXT Pro ", - said Bhaskar Bhat (Bhaskar Bhat), Managing Director of Titan.
In early October, Titan warned that sales of jewelry with precious stones exceeded expectations in the quarter ended in September, but volatile gold prices and low consumer confidence had a negative impact on sales of gold jewelry. This perhaps explains why the income from the jewelry segment of companies operating under the brand Tanishq, grew by only 0.24% in the third quarter year on year to $ 298.75 million. Revenue from this segment, as a rule, is the major share of the total sales.
"During the holiday period from Dussehra to Diwali Tanishq has registered an increase of 39% compared to last year", - concluded Bhat.
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The seventh session of the Antwerp Diamond Trade Fair (Antwerp Diamond Trade Fair, ADTF) , jointly organized by the Antwerp Diamond Exchange (Antwerp Diamond Bourse), the Diamond Club of Antwerp (Diamond Club of Antwerp) and the Antwerp exchange rough diamonds (Antwerp's Rough Diamond Bourse), has become a new page in "love story" between its members and visitors.
ReplyDelete"It was not easy, but we have drawn up here a few major business transactions Certainly, Antwerp remains a source of diamonds number one If you can not find here what you are looking for, then believe me, you will not find this anywhere else.." - he shared his impressions Albert M. buyer of diamonds from the Middle East.
"The invitation to come and visit Antwerp in connection with ADTF was a brilliant idea, and it opened a lot of doors" for us - said, for his part, one of the British jewelers.
In ADTF were, however, exhibited not only diamonds Some of the participants reported. exclusive sets of colored gemstones, including emeralds, rubies and sapphires.
According to the organizing committee representative ADTF Michel Schonfeld (Michel Schonfeld), by satisfying the demand of new customers and already established their range, providing them with a good entertainment program and int ery of educational seminars ADTF strengthens and expands the association with them.
Truly a dazzling selection of diamonds of all sizes, quantity, price and quality of visitors to the fair presented 90 diamond companies in Antwerp.
The program ADTF February 1 breakfast seminar was organized, which was attended by about 200 people. ADTF Communications Director Yaakov Almor (Ya'akov Almor) informed the audience about where retailers can find reliable information on the range of diamond products. Chief Expert of the International Gemological Institute (International Gemological Institute IGI), Jean-Mathieu Mangne (Jean-Mathieu Mangnay), in turn, drew the audience a story about the manufacture of synthetic or grown in the laboratory diamonds conditions, as well as the different ways of identifying these stones, according to the organizing committee ADTF.