The company said that in the last one decade, customers' taste has evolved and Tanishq has kept pace with them. Hence, it has decided to consolidate its offerings.
Jewellery volumes have picked up post the recent fall in gold prices, but new government norms like know your customer details could weigh on volumes in the near-term, Bhaskar Bhat, MD, Titan Industries, said on Thursday.
Price of gold in India has touched new highs of late and this has led to a talk of demand slowdown for the golden metal. Bhaskar Bhat, MD of Titan acknowledged the slowdown and said that jewelers across the country has witnessed sharp decline in volumes.
Even though Titan Industries reported outstanding numbers for the first quarter for FY12, Bhaskar Bhat, managing director of the company believes that they will see a fall in sales for the current quarter.