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Tanishq, one of the largest jewellers in the country, said on Friday that it is expecting to touch a business turnover of almost Rs 7,000 crore during the current fiscal.
The company, which has made over Rs 5,500 crore turnover during the last fiscal, would touch between Rs 6,500 crore and Rs 7,000 crore, as demand was increasing, despite the increasing prices of the yellow metal, Tanishq Chief Operating Officer, Mr C K Venkataraman, told PTI.
Mr Venkataraman, here to open a showroom (franchisee), the 127th of the company’s network in 76 cities, said that it proposed to open another 15 to 20 showrooms by the end of this year.
Of the total turnover, 25 per cent normally comes from diamond jewellery sales and the company, which had just Rs 500 crore turnover in 2005, had touched nearly Rs 6,000 crore during the last financial year, with 40 per cent increase in quantity during the first quarter of this financial year, he said.
On the increasing price trend, Mr Venkataraman attributed this to the unrest in some countries and also “insecure attitude of certain investors”, who wanted to purchase and invest in the gold, which may fetch good prices at later stages.
Tanishq showrooms have an exclusive collection of diamond jewellery, light weight jewellery and traditional jewellery and also gem—set jewellery in 22 and 18 karat gold, he said.
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