Tanishq is banking on the younger generation and working women to increase its sales by offering affordable yet designer diamond jewellery.

The Tata group company recently launched FQ diamonds for teenagers and Iva for working women in the age 34-40 group.

The retailer is also test-marketing its young brands in a few cities through the kiosk format to attract school- and college-goers. So far, the company has set up 12 such kiosks in different malls and high streets.

While FQ diamonds are priced between Rs 499 and Rs 2,999, the Iva collection starts at Rs 20,000.

“These are not those traditional or contemporary jewelleries but something you can wear everyday and also on social occasions. We are expecting very good growth and demand coming in from these segments,” said Sandeep Kulhalli, Vice-President, Tanishq.

He said that the company will expand this model to more cities with a larger design collection. The company expects the segment to gain traction within a year.

The gold and diamond jewellery market in India is pegged at $30 billion and is growing as retailers look for products that can woo younger generations who otherwise would buy junk or artificial jewellery.

International brands such as Accessorize, Aldo and Chemistry, along with unorganised local players, have a huge presence in the artificial jewellery segment. Prices in the high end start at Rs 1,000.

To heat up competition, well-known diamond jewellery brands such as Gitanjali, Damas, Tarash and TBZ have now introduced exclusive product ranges priced below the Rs 1,000-mark.

priyanka.pani@thehindu.co.in

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