Tanishq eyes Rs 2,000 cr revenue, to open 7 outlets by Mar'08

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New Delhi, Jan 22 (UNI) Tanishq, a jewellery division of Titan Industries Ltd, today said it is eyeing a total revenue of Rs 2,000 crore, besides opening seven exclusive outlets across the country by March 2008.

''For the last nine months of the current financial year, we have already exceeded the last year turnover of Rs 1,292 crore.

By March this year, we will achieve Rs 2,000 crore revenue,'' Tanishq Vice President (Marketing) V K Govindraj told reporters here.

The country's largest jewellery brand is growing at a rate of 50 per cent, he said adding the company will open seven new outlets across the country to cater to the needs of the people.

Tanishq has 103 boutiques in 73 cities across the country with a premium range of gold jewellery studded with diamonds or coloured gems and a wide range in 22 kt pure gold.

Mr Govindraj, however, refused to divulge further details about where the firm is going to open the outlets.

Titan Industries Ltd had registered a revenue of Rs 2,132 crore during 2005-06, which will touch the Rs 3,000 crore by the end of this fiscal, the Vice President said.

Titan Industries Ltd yesterday got approval from its Board of Directors for the buy-out of minority interest in three domestic firms -- Samrat Holdings Ltd, Questar Investments Ltd and Titan Holdings -- for Rs 21.90 crore.

The jewellery and watch retailer is the country's leading manufacturer of watches and jewellery and the world's sixth largest manufacturer brand of watches.

Set up in 1984 as a joint venture between the Tata Group and the Tamil Nadu Industrial Development Corporation, the company transformed the Indian watch market, offering quartz technology with international styling, manufactured at its factory at Hosur in Tamil Nadu.

In 1995, Tata diversified into jewellery under the brand Tanishq.

UNI SBA MP BD1550

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