Tanishq, the jewelry retail model from the Home of Tatas, has charted out a development technique to have 500 shops within the subsequent few years in order to achieve 300 + cities. At present, the corporate has 400 shops in 255 cities.
Ajoy Chawla, CEO, Jewelry division, Titan Firm Ltd mentioned there’s a development alternative for the corporate to develop. “We’re additionally increasing our present shops when it comes to development plans by growing the house”, he advised BusinessLine.
Chawla, who was in Kochi to relaunch one of many shops, mentioned the gold jewelry enterprise appears to be like bullish in India contemplating the nation’s development technique regardless of recession throughout world markets. Tanishq gross sales in the previous few years goes up.
Requested whether or not excessive gold import duties hit enterprise, he mentioned it isn’t actually. The gold charges went up in June-July interval, however the enterprise continued with the beginning of the festive season within the nation. Within the subsequent 3 to 5 months, lot of wedding ceremony and festive gross sales are going to occur and the enterprise outlook going to be excessive, if the gold fee shouldn’t be risky. As soon as it stabilizes there will probably be good gross sales, he added.
On the introduction of recent collections similar to Chozha and Pichwai, he mentioned the client response was encouraging. The planning interval of such collections is often 8-9 months from idea to produce in shops.
Requested whether or not they’re planning for any collections for Kerala market, Chawla mentioned “our focus is to construct a powerful retail presence within the State given the big buyer financial institution and later take into consideration a model”. “We now have quite a lot of Kerala particular jewelry merchandise for wedding ceremony prospects”, he added.
The corporate can also be increasing the opposite three manufacturers similar to Mia, CaratLane, and Zoya.