Tanishq’s the brand to watch out for

Friday, 13 May 2011

Tanishq, perhaps the only major Tata brand with a strong appeal for women expects, its jewelry retail business, to grow 25 per cent to 30 per cent annually for the next five years, riding on domestic demand. Titan Industries, watches and eyewear major, brand has been growing at 30 to 40 per cent over the last decade. In cities like Pune, Hyderabad and Bangalore, Tanishq runs stores that are 8,000 to 12,000 sq. ft. in size. In Chennai, the company runs a huge 16,000 sq. ft. store and recently launched a 20,000 sq. ft. store in Mumbai where it hopes to generate a turnover of Rs 150 crores.

Meanwhile, Tanishq has also roped in star couple Amitabh and Jaya Bachchan for their new ad campaign, educating consumers on diamond jewelry — cut, clarity, color and carat. The company sells jewelry in the Rs 2,000 to Rs 40 lakh price range through 119 stores in 78 cities. In the last fiscal, Titan’s sales grew over 39 per cent at Rs 6,570.86 crores. The jewelry business, which grew 43 per cent, contributed 76 per cent to the top line, while the watch business grew 23 per cent and contributed Rs 1,266.46 crores.

The company has three brands — flagship brand Tanishq, high-end brand Zoya and GoldPlus. Tanishq, launched in 1994 as a range of jewelry and jewelry watches, was probably coined from a combination of Tan, meaning body, and Ishq, meaning love. Tanishq has brought to the market a whole new standard of business ethics and product reliability, in the process bringing about a transformation in the manner in which jewelry is bought and sold in India.

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