Tanishq to reopen stores in a phased manner
Tanishq stores have been shut since March 22, 2020, following a nationwide lockdown to curb the spread of coronavirus disease in the country.
The company opened 50 of its stores on Sunday and said that it will continue to comply with all rules related to Covid-19 lockdown, while re-opening and running operations.
Commenting on the reopening of stores, Ajoy Chawla CEO jewellery division at Titan, in a statement said: “We are reopening our stores in a phased manner because each store has to pass an eligibility test prior to commencing operations. This is to ensure each store is 100 percent prepared to manage the store, staff, and customers.”
“As we obtain permissions from local authorities, stores are sanitised and a formal safety preparedness assessment is completed. Then stores are opened in a phased manner to ensure zero-defect compliance,” he added.
Titan’s jewellery division has witnessed a 5 percent drop in sales in the January-March quarter mainly due to poor sales in March and expects it to affect its overall performance for the fiscal year.
For the financial year 2018-19, Titan had posted a net profit of Rs 1,389 crore ($193.6 million), while its revenue was Rs 19,961 crore.
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