Titan’s Tanishq brand plans expansion in tier 2, 3 towns

By

Maverick Martins

Published
Apr 9, 2019

Tata group’s jewellery brand Tanishq is planning to expand its retail presence in tier 2, 3 towns across the country with its mid-format stores.
 

Tanishq will also banking on the popularity of local actors to enhance the visibility of the brand and will be signing regional actors as brand ambassadors. The company will also be launching new community-specific merchandise to tap the millennials in these regions.
 
“We have about 290 stores in 174 cities of which 10 are large-format stores. Going forward, we are planning to enter B & C towns by setting up mid-sized stores (between 3,500 square feet and 4,000 square feet) as they are economical and offer good returns,” Sandeep Kulhalli, senior vice president retail and marketing at Titan Company Ltd, told the Hindu.

“The jewellery division had been posting a growth of more than 20 percent growth year-on-year. The division would be roping in leading actresses from Tamil and Kannada film industries as brand ambassadors to boost its sales,” Kulhalli added.
 
Titan is expecting its jewellery business to grow by 21-22 percent in FY19. It had reported a net profit of Rs 1,102 crore ($164.4 million) on the back of strong jewellery sales with total revenue of Rs 16,245 crore in the 2017-18 financial year.