Titan Expects Increased Demand for Silver Amid Gold Price Hike, Excluding Entry-Level Investors

Titan Company Ltd. Adapts to Rising Gold Prices with Silver Focus

Bengaluru: Titan Company Ltd., a Tata Group firm, is doubling down on studded silver jewelry to protect its growth in the sub- ₹1 lakh segment amid soaring gold prices. The company is expanding its design-led silver offerings to retain entry-level buyers, rather than relying on lower-carat gold or pricing tweaks.

Key Performance Indicators

• ₹1.5 lakh: current gold price per 10 grams on the MCX, up sharply over the past year
• ₹2.35 lakh: current silver price per kg, indicating a widening affordability gap between the two metals
• ₹19,921 crore: revenue of Titan's Tanishq-led portfolio, including Mia and Zoya, in the December quarter (Q3FY26), up about 40% year-on-year
• ₹1,537 crore: revenue of CaratLane, a 42% increase over the previous year
• ₹24,501 crore: Titan's Q3FY26 consolidated revenue, of which over 87% came from the jewelry business

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Market Trends

The shift to silver and silver-studded pieces is a broader pivot underway in India's jewelry market. As gold prices climb, consumers, particularly younger buyers, are becoming more experimental and gravitating toward lighter, lower-ticket categories. Arvind Singhal, chairman and MD of The Knowledge Company, notes that gold will remain important, but jewelry is becoming more of an accessory than a store of value for many consumers.

Company Strategy

Titan's jewelry division CEO Arun Narayan and managing director Ajoy Chawla acknowledged pressure in the sub- ₹1 lakh segment during the company's FY26 December-quarter earnings call. The company aims to own the customer in this space through its portfolio of brands.

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