Tanishq achieves another milestone in jewellery retail

Tanishq achieves yet another milestone in jewellery retail. Unveils 100th store in the country
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Oct 29, 2007, 03.28 PM | Source: Moneycontrol.com

Tanishq achieves another milestone in jewellery retail

Tanishq achieves yet another milestone in jewellery retail. Unveils 100th store in the country

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Tanishq achieves another milestone in jewellery retail

Tanishq achieves yet another milestone in jewellery retail. Unveils 100th store in the country

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100 & still counting…that’s right, Tanishq - India’s national jewellery brand reached the century mark as it unveiled its 100th store in Patna at Hathwa Market. Having embarked on the retail journey a decade ago, Tanishq today is the largest jewellery retailer in India. With a strong presence in 70 cities across India, unmatched collections and assured purity, Tanishq has quickly become the first choice of discerning customers.

 

“This is an amazing achievement for Titan Industries ,” said V Govindraj, Vice President, Tanishq. “Retail is a capital-intensive business. In America, having 1,000 stores is not unusual. Even for niche retailing, 200-300 stores are needed. But in India, although there are several small scale unorganized jewellery markets, Tanishq is the first and only jewellery brand to have organized mass jewellery retail chains across the country. As our company expands, more and more people will be able to share our mindset. Brand Tanishq is for every Indian woman; it is at all times keyed-in to their ever-changing demands, moods and tastes. It conveys a feeling of self-confidence and individualism that characterizes the Indian woman. The offerings are in tune with fashion and yet do not lose touch with tradition.”

 

Tanishq ventured into jewellery retailing in 1996 through exclusive stores, both company owned and franchisee outlets, a concept unique to branded jewellery segment at that time. In just over a decade Tanishq has achieved several milestones and today is the largest jewelry brand in the country with a turnover of Rs. 1250 crores in the last fiscal. This success of Tanishq is a result of an exclusive blend of exquisite designs, trust and reliability, innovation, highly focused communication strategy and innovative retail strategy.

 

Design and retail innovation have been the hallmark of Tanishq all these years. Tanishq has constantly formulated an innovative product strategy this journey in line with the evolving consumer tastes. Tanishq Design Studio has created exquisite and varied collections like Fashion earrings, Everydays, high-end Zoya collection among others aimed at distinctive consumer segments. Similarly Tanishq has undertaken several unique retail initiatives keeping in mind the customer demand for a world class shopping experience. As such Tanishq retail identity has evolved over the years to offer large format and concept stores that reflect the brand’s philosophy of being “Revitaliser of Tradition”.

 

Commenting on Tanishq’s success story, Mr. C K Venkatraman, COO, Tanishq, said "We have been able to capitalise on the trends of the local jewellery markets by building on our solid financial strength, market-leading brand position, wide network, local sourcing strategy, a management model of excellence and, most importantly, a philosophy of customer care. In the future, the key to building stronger competitiveness will lie in enhancing network coverage, brand equity and logistics. Amid the keen competition in the Indian jewellery market, only the strong player can emerge victorious."

 

Tanishq’s retail strength goes beyond its innovative identity and extensive reach. Tanishq has undertaken several unique retail and marketing initiatives like creating purchase triggers like Doctors Day / Professional Day etc that were unexplored avenues in the industry. Tanishq has also endeavored to be part of every occasion in an Indian woman’s life through festive promotions, customer contact programmes as well as through Anuttara, Tanishq’s exclusive consumer reward programme etc.

 

Following more than 40% percent growth in operations last year, Tanishq will invest extensively during 2008 in marketing and retail initiatives to further develop the market. In addition, Tanishq will build new logistics centres and upgrade existing ones, laying a solid foundation to meet future competition.

Sourced From: Vaishnavi Corporate Communications Pvt Ltd

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