The CEO of Titan’s Jewellery Division notes that high gold rates have instead sparked a sense of urgency among buyers
Bengaluru: As India heads into Dhanteras and Diwali, Tanishq is witnessing a remarkable surge in jewellery demand, even as gold prices touch an unprecedented Rs 1.3 lakh per 10 grams. The festive rush appears undeterred by soaring prices, with Ajoy Chawla, CEO of Titan’s Jewellery Division, noting that the high rates have instead sparked a sense of urgency among buyers.
Speaking to NDTV Profit, Chawla said the season began on a slower note but has since seen strong momentum. “Volume growth has started coming in after the start of the festive season. Until Navratri, we saw a lot of customers stay away, and therefore, volume growth was not visible,” he shared. “But now that people have realized that the price of gold is here to stay and is going up, all those fence-sitters have started coming back. The sentiment is clearly back,” he added.
Gold prices have seen a sharp rise, yet customer enthusiasm continues unabated. Chawla attributed this to a ‘Fear of Missing Out (FOMO)’ sentiment driving demand, particularly for gold coins and bars. He was quotedas saying, “We’re seeing a run on gold, especially on coins and bars — maybe because of investment or FOMO. People are thinking gold prices will go up further.”
Addressing concerns about reports of stores running out of stock, Chawla assured that Tanishq had made adequate preparations to handle the festive surge. However, he acknowledged that the situation remained fluid. “There is a bullion shortage in the country. We have planned for it adequately, but I won’t be surprised if we run out of coins. There is a worry among customers that there may be a shortage of gold,” he said.
Despite challenges posed by escalating bullion prices and limited availability, Tanishq’s strong festive performance underscores the enduring cultural and emotional value of gold jewellery in India.
Tanishq, a TATA Group entity under TITAN, is based in Bengaluru and operates over 500 exclusive boutiques across more than 300 cities in India, specializing in gold, silver and diamond jewellery.
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