Mumbai, Oct 30 (UNI) 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.
Speaking to reporters, Tanishq Vice President V Govindraj said, ''This is an amazing achievement for Titan Industries. 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.'' 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 1,250 crore in the last fiscal.
Commenting on their success story, Tanishq COO 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.'' Following more than 40 per cent 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.
Tanishq, India's only national jeweller offers gold and gem-set jewellery (in 22 and 18 Karat gold) in over 6,000 traditional, western and fusion looks. The Tanishq retail chain currently includes 99 exclusive boutiques in 69 cities, making it India's first and largest jewellery retail showroom chain, Mr Venkatraman informed.