Financial Daily from THE HINDU group of publications
Thursday, Jun 20, 2002
New Products & Services
Tanishq to launch `Collection G'
NEW DELHI, June 19
AFTER Collection G from the World Gold Council, get ready for Collection G from Tanishq.
The branded jewellery division of Titan Industries is set to roll out Collection G, its latest range of 22-karat jewellery aimed at the `modern, contemporary woman'.
While the domestic jewellery market has been flat in recent months, analysts tracking the sector believe that Tanishq is on turnaround track, owing to a revamped retail format, a series of promotions such as the recently-initiated exchange scheme (enabling customers to exchange impure gold for 22-karat gold) instead of mass media advertising, its positioning as an aspirational brand, and introducing more contemporary and affordable designs.
Collection G is a step in that direction. According to sources at Tanishq, the latest collection is being aimed at the `everyday needs of the evolved, young, working woman, who believes in keeping pace with time'.
In tune with the trend of offering affordable branded jewellery, Tanishq's Collection G too is priced upwards of Rs 595, sources told Business Line.
The range includes bangles, bracelets, chains, earrings, pendants and light neckwear.
While Collection G has already been placed in stores in Hyderabad, the jewellery series is expected to be taken to other cities in phases, company sources said.
Other recent jewellery collections from the Tanishq brand stable include Diva, Aria and Hoopla.
Interestingly, while most branded jewellery players such as Tanishq, Carbon, Oyzterbay and Gili target the younger consumer with modern designs and lower prices, market studies suggest that the highest purchasers of branded jewellery are 35-45 year old women.
While audited company results will be declared later this month, Tanishq expects to close the financial year ending March 2002 on a turnover of Rs 250 crore. The Tanishq brand is currently retailed at 54 outlets across 40 cities.
The domestic branded jewellery market is estimated at roughly Rs 450-500 crore.
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