IndiaRetailBiz

Tanishq, the country’s most prominent gold and precious jewellery of brand, which has deservedly been credited for pioneering and promoting the concept of branded jewellery in India, is expecting to make a big splash this festive season. Tanishq is currently operating a retail network of 117 exclusive boutiques across 78 cities of India.Tanishq is expecting major growth in sales during the season to come from high-end jewellery products– particularly diamond products, which are sold under “Zoya” label. The company has lined up several promotional offers during the season to boost its business. A special festive contest for its customers launched by the company gives an opportunity to customers to win diamond jewellery along with assured gifts on purchase of Rs 15,000 or more from Tanishq.Tanishq is the jewellery brand of India’s largest branded watch maker Titan Industries Limited, which in turn is owned by the diversified Tata group.Despite skyrocketing gold prices and cautious consumer sentiments, Tanishq is confident of notching up excellent business from high-end customers, who despite rising prices value the importance of investing in gold and related products. The brand is expecting a business of Rs 500 crore during the festivals.Although, Tanishq started as the first gold jewellery brand of the country, around one quarter of its business now comes from its portfolio of diamond jewellery products.Tanishq is expecting sales of jewllery products to grow from Rs 2,600 crore (2008-09) to Rs 3,100 crore this fiscal (ending March 31st, 2010), representing a healthy annual growth of around 20 per cent in difficult market conditions.Tanishq has been constantly innovating its product offerings to cater to varying tastes and needs of consumers across all segments. It has recently launched a new line of concept stores under the “Revitaliser of Tradition” theme.The first-of-its-kind stores under the new theme located at Kolkata, Delhi, Bangalore and Pune, attempt to combine the grandeur of the past with the reality of the present without losing the inherent character and appeal of the brand.Apart from opening a store in the U S last year, Tanishq recently opened its largest retail store in Chennai (spread over three-floors, 20,000 sq ft).