Generally, jewellery sales are low two weeks before Dussehra (the Shrardh period). So, to activate demand and purchase during this period, Tanishq came out with a pre-booking offer in select markets - Delhi, Punjab, Gujarat and UP (where Shrardh is observed strictly). 'This scheme allowed people to block gold at prevailing prices and they could buy jewellery after Shrardh. We had more than usual commitment to buying this time,' said Mr Raj.
Also, the high price of gold last week ($625-630 per troy ounce) spurred demand. Anticipating a further rise in prices, there was lot of response to the pre-booking offer; sales too were good. 'We had a doubling of sales during this period this year compared to the other years,' said Mr Raj. However, gold prices have since then come down to settle at $584 per troy ounce (Rs 8,800-8,900 per 10 grams).
Meanwhile, Tanishq plans to open its biggest store (7,500 sq. ft) in the country at South Extension, Delhi on September 23. Currently, it has 84 stores in India. Plans are on to open six more by March 2007.
