Jewelry Firm Titan Reports 25% Revenue Jump Despite Rising Precious Metal Prices

Indian jewelry giant Titan Company reported Monday that its fourth-quarter revenue grew 25%, outpacing last year’s 17% growth despite gold prices rising 15% in 2024.

While the rising gold prices have caused middle-class consumers to cut back on discretionary spending, they haven’t deterred affluent Indians from purchasing gold ornaments for weddings or as investments.

Titan’s jewelry business, which represents about 90% of total company revenue through brands like Tanishq and CaratLane, saw particularly strong growth in plain gold jewelry (up 27%) and gold coins (up 65%), demonstrating strong consumer preference for gold as both adornment and investment.