Titan Company Limited CC-Sep24.pdf · 2024-11-05
Hi Avi, Venkat here. Trent is a big box retailer and Westside sells multiple categories. So, they sell perfumes, Titan sells perfumes, they sell women's bags, Titan sells women's bags and salwar kameez and so on. So, in a way, it is natural for a big box retailer to consider fashion jewellery and the introduction / use of the lab-grown diamonds in the fashion jewellery. We are a category expert, we create brands, we create EBOs and we play the game very differently. And both of us are free to pursue our own destinies. I think because the lab -grown diamond is a strategic subject in the jewellery industry, obviously this question is raised as opposed to perfumes and bags, I understand that. But it certainly does not preclude us at all from doing anything that we want. It is just that we choose to do our business in a particular way and this is a matter of such strategic importance that we would announce it when we are ready to announce it. That is all.
And for what it is worth, to answer your first question in the American market, the general tendency of people is to buy a much bigger product for the budget that they came with. So, if it is $10,000, so I would buy a much bigger stone for the $10,000 and in a way make myself and my bride to be happy with that bigger stone. And that is the tendency in the US as opposed to buy a similar product at one-third the price.