Tanishq, a Tata group firm, plans to enter North America, Canada, and Gulf Cooperation Council countries in 2022 to boost its worldwide revenue share, according to Titan Company MD C.K. Venkataraman. We opened our first jewellery showroom in Dubai a year ago, and the second just a few weeks ago. We intend to open a large number of showrooms in the next two to three years, notably in North America, the Gulf Cooperation Council, and Canada. Mr. Venkataraman remarked this at the opening of a Tanishq store in Urapakkam, Chennai. He states that Tanishq’s initial jewellery showroom in Dubai is company-owned, with the others being franchised. The cost per showroom is estimated to be between 25 and 30 crores. Tanishq will operate on an asset-light strategy, with the franchise investing in the building and a piece of its revenue in wearables. He stated that the jewellery that would be created and sold in the North American market would be different from that offered in Indian stores, yet similar. The NA/GCC will open at the same time, and the size of the showroom would be determined by the location and Indian diaspora, he added. sasssss
Tanishq has also ventured into non-watch related ventures such as perfumes, saris, and women’s luggage. “In the next two to three years, we want to make it large.” The jewellery industry has a lot of potential in the global market. Aside from jewellery, other industries are growing. Our next focus will be on the global market and other categories. Mr. Venkataraman expressed his thoughts. He noted that FY22 was a difficult year, but that the company did well since Q2 was ‘excellent.’ “The third quarter was likewise a good quarter. The results will be available soon, according to the MD. “We are lucky to be a jewellery firm because it does exceptionally well in good times. He went on to say, “It’s a solid brand now.” Tanishq, an Indian jewellery company, opened its first American store in the Chicago suburbs in July, with ambitions to add 25 to 30 more in the next three years. Titan Industries Ltd., one of India’s largest watch and jewellery manufacturers, owns Tanishq, which has 108 shops in 73 locations across the country.
Titan Industries is part of the Tata Group, which has a market capitalization of $70 billion. The jewellery company’s first 1,900-square-foot site will debut this autumn at the Garden State Plaza in Paramus, N.J., and will be followed by a second location at the Woodfield Mall in suburban Schaumburg. According to Gaurav Bhuwan, Tanishq’s head of sales operations, none of the extra expected 25-plus retail sites have been finalized. Tanishq (pronounced ta-neeshk) chose the Midwest as its launch location because of the large traffic and tourist numbers at Woodfield Mall, as well as Chicago’s strong sense of design reflected in its architecture, according to Bhuwan.
Rings, earrings, necklaces, bracelets, and brooches made of 18-karat gold and white gold range in price from $98 for an 18-karat charm on a silk ribbon to $11,300 for a one-of-a-kind floral piece with diamonds. Jewelry is arranged by collection and presented in an intimate gallery-like, garden-inspired setting with live vegetation lining much of the upper margins of the store’s walls, where Bhuwan expects yearly sales of $2 million. Rather than being greeted by giant cases brimming with gems as soon as they walk in the door, customers are invited to meander about the store, with some jewellery exhibited at eye level on the walls and other items in smaller cases. A lounge area containing books on photography, art, music, and jewellery is also available at the store.
People want a stress-free, relaxing setting, according to Bhuwan, who likened the store to a garden with winding paths leading to its Lotus, Spring, and Yoga collections. They’re on the lookout for a spot where they can make friends. Employees, in turn, tell the storey behind each collection, which varies seasonally. The Lotus line has 18-karat white and yellow gold, pink sapphire, keshi pearls, carved rock crystal, and diamonds in jewellery priced from $400 to $11,299, including a three-strand 18-karat white gold necklace with rock crystal beads and diamond lotus blossom and swirl pendant for $4,899.
The Yoga line includes diamond-encrusted flowing shapes priced from $289 to $2,399, including a $670 18-karat white gold ring with a single suspended diamond. The Spring collection has delicate floral designs made of garnet, rose quartz, and amethyst that range in price from $501 to $4,322, including a $1,699 18-karat gold necklace with ring-shaped pendant embellished with three hand-carved garnet flowers clustered around diamonds. Tanishq also has repurposed wood floors and some muted display cases that seem like adobe walls, keeping with the more natural aesthetic. Teak wood boxes with silk linings are used to store the jewellery.