As gold prices remain firm, Titan expects 50% of Tanishq sales to come from old gold exchange programmes this festive season.

On Tuesday, the price of gold touched a record Rs 1,20,900 per 10 g, driven by robust global market conditions. Year-to-date, gold prices are up over 50%, hurting local demand. Titan, the country’s largest jewellery retailer, reported an 18% rise in domestic sales in the September quarter, according to its business update released on Tuesday, slower than the 25% it saw during the same period last year. Jewellery sales grew 19% year-on-year in Q2, driven in part by Tanishq’s old gold exchange offers, which began during Navratri. These offers will be on till the end of Diwali.

What did Ajoy Chawla say?

“Typically, old gold exchange has constituted 35-36% of Tanishq

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