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Saturday, Jun 14, 2003

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Tanishq sets Rs 400-cr turnover target

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TANISHQ, the jewellery brand from the Titan Industries stable, has set a turnover target of Rs 400 crore for the current fiscal as against Rs 331 crore last year.

"The Rs 1,000-crore branded jewellery segment in the country has been recording a good growth rate in the last few years and so did we," Ms Sonal Ramrakhiani, the Brand Manager of Tanishq, said, when asked whether the turnover target was achievable in the backdrop of the slowdown in the economy.

A continued focus on the domestic market and new innovations to cater to the varied preferences would help us achieving the target, she told newspersons here today. Ms Sonal was in the city to unveil the `Solo', a small solitaire diamond collection.

The `Solo' collection is available in three sets priced at Rs 34,000, Rs 47,000 and Rs 68,000. The Solo series also comprises rings, which are individually priced.

The jeweller, which runs 59 exclusive boutiques in 47 cities across the country, is planning to open "three or four more outlets this year, depending on the market dynamics".

"We will open an outlet at Rajahmundry to take the total number to six in Andhra Pradesh," she said.

Commenting on exports, she said it was small. "We do have a franchise in the US," she said and added that the company would certainly look at the NRI (non-resident Indian) segment to pep up its sales.

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