4 October 2018 Management stated that the industry operating environment for jewelry has been muted due to factors like lesser number of wedding dates, an increase in gold prices, tightening of credit to industry and subdued consumer demand. Nevertheless, TTAN reported good Jewelry sales, led by (a) market share gains, (b) successful new launches and (c) extended studded diamond activation. In 2QFY19, TTAN added six new stores (35k sq. of retail space added in 1HFY19), taking YTD store addition to 16. TTAN closed two stores in 1HFY19. (collection of studded jewellery) in 2QFY19, which enjoyed very good customer response. Contemporary silver collection was also launched under the Mia brand in the quarter. Watches division extended its growth momentum in 2QFY19, led by its continued focus on new designs and increased marketing spend. stores (closed 1) in 1HFY19, adding 1.8k sq.