Tanishq has high hopes for festive jewellery sales
Titan Company has a positive outlook for this year’s Dhanteras, Diwali, and winter wedding seasons. Tata Group’s jewellery business s banking on favourable gold rates and a full return to social events.
“With this being the first post-pandemic 'normal' Diwali, people are expecting to celebrate a "no holds barred" festival this year,” said Titan Company Limited’s jewellery division CEO Ajoy Chawla in a press release. “The sentiment is up, the mood is infectious not just for jewellery but all categories. As expected the predominant sentiment is for gold during the festive period. We are seeing a lot of traction for all our new collections with record sell-through rates, particularly Chozha for TN and Alekhya for the rest of the country, confirming the woman's desire for new designs that she wants to adorn, as she gets ready to socialise once again this Diwali.”
The business is also noticing high demand for lightweight jewellery designs. This has been an ongoing trend in the Indian jewellery industry as more and more people purchase jewellery as a gift for themselves and to wear everyday.
Gold prices, which have moderated from their peak around six to seven months ago, are at a more favourable rate and this should also boost purchases, according to the business. Titan expects the Diwali festivities to be followed by significant wedding purchasing for the winter season.
“Tanishq is anticipating and targeting strong growth, despite the high base of a record-breaking festive season last year, and we are not sparing any efforts in new launches, marketing and promotions,” said Chawla. “Our stores and teams have prepared well to welcome large numbers of customers this weekend, to serve them with a smile.”
The business has launched a number of new collections for the festive season including Tanishq’s exclusive festive collection ‘Alekhya’, inspired by Pichwai paintings. Tanishq has also launched an offer to enable shoppers to avail 20% of making charges for gold and diamond jewellery, the brand announced in a press release.
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