India’s largest jewellery retailer, Tanishq, reached the century mark when its 100th shop opened at Hathwa market in Patna having started on its retail journey two decades ago. It has a strong presence in 70 cities across India, unmatched collections and assured purity and thus becoming 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,” he said.
As its Chief Operating Officer (COO) Mr. C K Venkatraman, 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 and Professional Day which were unexplored avenues in the industry.