“The tempo at which Mia is rising, particularly within the final two or three years, is like 60-70 shops a yr, and even this yr, we’re aiming for 75,” Ajoy Chawla, CEO, jewelry division, Titan Ltd, mentioned in an interview.
Mia is at present Titan’s fastest-growing model in each quantity and worth inside its jewelry division, which incorporates Tanisq, Caratlane and Zoya.
In FY25, Mia crossed the ₹1,000 crore turnover mark, registering a 37% top-line progress led by community growth and advertising campaigns. The model ended FY25 with 240 standalone shops throughout 93 cities.
“What number of shops will we lastly open? We’ll see. Final yr, we opened 69 shops. Within the final six years, the retail footprint has additionally grown very sharply from 45 to about 240 standalone shops,” Chawla added.
Mia’s growth faucets right into a broader market pattern—prospects choosing lower-karat gold amid a file improve in gold costs. From Could 2019 to June 2025, costs of the yellow metallic have skyrocketed from ₹30,000 to over ₹100,000 per 10 grams, in line with a current report by brokerage agency Motilal Oswal Monetary Companies Ltd.
On Friday, costs eased barely to ₹98,242.38 for 22K gold. Costs for 14-karat gold had been round ₹58,910 for 10 grams.
A number of different manufacturers, reminiscent of Kalyan Jewellers and Bluestone have launched 14 karat gold jewelry; CaratLane just lately launched 9 karat gold items to money in on the demand for light-weight jewelry.
“The client remains to be digesting this surge in gold costs is my studying and we’re seeing this in gold–specially gold jewelry. Prospects are in a bit of and watch mode at the moment,” Chawla mentioned.
“When there’s a want, like weddings, festivals and so forth., they may come. Prospects will wait and see the way it stabilizes after which come. We’re seeing the need for decrease karat gold to satisfy their budgets. We’re additionally engaged on this,” he mentioned.
Focusing on younger consumers
Launched as a workwear jewelry providing inside Tanishq, Mia now appeals to a youthful, fashion-conscious shopper looking for daily-wear items or presents.
Although it has a presence in over 300 Tanishq shops, the 2 manufacturers cater to a unique set of customers with the previous interesting to wedding ceremony buyers and people trying to purchase gold units or extra ornate jewelry in 22 karat gold
As an illustration, a hoop at Mia can begin as little as ₹7,700 and go as much as ₹50,000; a easy 22 karat gold ring at Tanishq will price ₹22,000 and above.
“Within the final six years Mia has actually grown in stature—final yr it crossed the ₹1,000 crore mark. Now we have additionally consciously nurtured it as a model and invested far more; we noticed the potential. Within the final 5 years, we’ve been aggressive on it, and we are going to proceed to develop aggressively, ” Chawla mentioned.
In FY25, Titan Firm’s jewelry division posted revenues of ₹46,571 crore (excluding the sale of bullion), reflecting a 21% bounce in yearly revenues. Tanishq accounted for a bulk of the gross sales. General, the corporate reported ₹54,842 crore in income from operations (standalone) for the total yr, up 16% year-on-year.
Titan sells jewelry (Tanishq), watches, eyecare merchandise, fragrances, equipment and Indian gown put on (Taneira) and ladies’s luggage.
Roughly one-third of Mia’s gross sales at present originate from its presence inside Tanishq shops, with the rest coming from devoted Mia shops and on-line retail.
Development is led by each new prospects to the model and new prospects of the class of gold and studded jewelry.
In the meantime, Chawla acknowledged the impression of excessive gold costs on the broader client sentiment. In its June quarter replace filed with the exchanges earlier this month, the corporate mentioned its home jewelry enterprise grew 17% year-on-year. The quarter was marked by gold worth volatility that impacted client sentiment.
From Could to mid-June, buyer progress remained flat, with buyers choosing light-weight and lower-karat items.
“We’re seeing the need for decrease karat gold to satisfy their budgets. We’re additionally engaged on this,” Chawla mentioned.