Q1FY23 Update
Presentation
Financials
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That is 1/3 rd of India’s population.
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So Lenskart wants to ship 40 crore specs a year from the current 1 crore. That is a bit too much. I am of the opinion that people don’t change their specs that often, and use just 1 or 2 for a long time. And if they are of premium price, I am sure cost sensitive people will not buy again, who are in crores, as Lenskart wants to serve 50% of India. Not to mention the older generation people ordering from the local shops which sell different brands. If brick and mortar grocery stores’ argument is applied here, that people want to touch and feel things, we can add the aspect of look here, people want to put on a frame and see how they look, they may even want validation from others around them.
So to create a sustainable moat in a rather fragmented business, with cost and reach as influential variables, I don’t give too much weight to these type of articles about the vision to scale to such magnitude.
Also, eyewear revenue is less than 2% for Titan.
Have a position in Titan.
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Lensksrt already has physical stores almost everywhere. So the physical experience is there.
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Lenskart is cheap and popular option. They don’t deal with premium lenses such as Carl Zeiss or even Nikon.
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I did not know about these. So if there is reach and affordability, then sure there is a chance of the business growing.
In this day and age, I am not so sure of stickiness to brands, except in the case of foods, and even in the case of foods, there is a place for experiments. So when there are too many choices available, people may want to try something else.
But as of now, Titan is a jewellery brand, so the emergence of another brand in a small vertical does not have any impact on Titan.
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Intrigued by some discussions going on regarding lenskart’s vision and impact on Titan.
I see only no impact on Titan but rather 1 on laymen… lenskart’s vision displays to layman like us the magnitude of business growth possible in this small subsegment of Titan
Why I say to layman is because the Tatas must already know more than what even any other business operating in same segment knows…
Lastly, would not compare the two as IMO both are not comparable till date because of lens quality.
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The comparison was not 1-2-1 only the scalability… Titan is like Apple OS… Premium category and Lenskart will be Android of eyewear
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Titan is gaining market share in the watch based wearable segment (smartwatch); small fish in a big pond…
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Zoya is luxury arm of the jewellery vertical.
Tanishq - caratlane - mia are the other arms in this vertical
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Anyone has more insight into what TEAL (Titan Subsidiary) is into? Seem they have some exposure to Defense area as well.
You can get some more details on
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Apart from very impressive results, both in jewelry and non-jewelry business, the company acknowledged Rakesh sir’s absence - speaks volume about the management in my humble view…
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