The Hindu Business Line : Tanishq embarks on retail expansion to double sales

New Delhi, Jan. 22 Tanishq, the jewellery division of the Tata group company Titan Industries Ltd, is embarking on a retail expansion with an aim to increase sales by 50 per cent to touch a turnover of Rs 3,000 crore in 2008-09.

“In the first nine months of the current fiscal we have already crossed the Rs 1,292-crore mark and in the coming fiscal we are targeting about Rs 3,000 crore,” said Mr V. Govindraj, Vice-President (Retail and Marketing), Tanishq.

The company is expecting to clock revenue of about Rs 2,000 crore in 2007-08, he said. In 2006-07, it had revenues of Rs 1,292 crore.

In order to meet the sales target, the company is also expanding retail presence of the jewellery brand. “We will increase the number of our exclusive stores to 110 from the current 103 by the end of this fiscal. We will also expand to three more cities,” Mr Govindraj said, adding that seven exclusive showrooms would be added by March.

Tanishq today showcased the ‘Jodhaa Akbar’ jewellery collection, ahead of the release of the Hrithik Roshan and Aishwarya Rai-starrer period movie. The company was the official jewellery supplier for the film. “The film is slated for release on February 15 and after that the set of jewelleries will hit the market. It will be priced between Rs 25,000 and Rs 12 lakh,” said Mr Govindraj.

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