Bengaluru: Hovering gold costs are squeezing Titan Firm Ltd’s price-sensitive clients, prompting the Tata Group agency to double down on studded silver jewelry to defend progress in its sub- ₹1 lakh phase.
The stress is most seen at its youth-focused manufacturers CaratLane and Mia by Tanishq, the place demand is displaying indicators of pressure as gold turns into much less reasonably priced. Titan is increasing design-led silver choices to retain entry-level consumers, fairly than relying solely on lower-carat gold or pricing tweaks.
The shift underscores a broader pivot underway in India’s jewelry market: as gold costs climb, shoppers—significantly youthful consumers—have gotten extra experimental, gravitating towards lighter, lower-ticket classes resembling silver and silver-studded items.
Gold is at the moment buying and selling at round ₹1.5 lakh per 10 grams on the MCX, up sharply over the previous yr, whereas silver is hovering round ₹2.35 lakh per kg, indicating a widening affordability hole between the 2 metals.
“We’re seeing a structural shift in India’s jewelry consumption. Gold will stay vital, however for a lot of shoppers, jewelry is changing into extra of an adjunct than a retailer of worth,” mentioned Arvind Singhal, chairman and MD of The Data Firm, a administration consulting agency “That’s the place silver, gold-plated and semi-precious classes will proceed to achieve floor, particularly amongst youthful consumers.”
Titan’s jewelry division CEO Arun Narayan and managing director Ajoy Chawla, talking on the firm’s FY26 December-quarter earnings name, acknowledged stress within the sub- ₹1 lakh phase. “As a portfolio of manufacturers, that’s our sport plan, to make sure that we personal that buyer within the sub- ₹1 lakh house,” Chawla mentioned.
Within the December quarter (Q3FY26), Titan’s Tanishq-led portfolio, together with Mia and Zoya, reported income of ₹19,921 crore, up about 40% year-on-year, although Mia’s numbers are usually not disclosed individually. CaratLane posted income of ₹1,537 crore, a 42% improve over the earlier yr. Titan’s Q3FY26 consolidated income was ₹24,501 crore, of which over 87% got here from the jewelry enterprise.
