Tata group’s jewellery brand Tanishq is betting on mid-format stores and region-specific brand ambassadors to sustain growth, said a top official.
“We have about 290 stores in 174 cities of which 10 are large-format stores,” said Sandeep Kulhalli, senior V-P, retail and marketing, jewellery division, Titan Company Ltd. “Going forward, we are planning to enter B & C towns by setting up mid-sized stores (between 3,500 sq.ft. and 4,000 sq.ft.) as they are economical and offer good returns.”
He said the jewellery division had been posting a growth of more than 20% growth year-on-year.
The division would be roping in leading actresses from Tamil and Kannada film industries as brand ambassadors to boost its sales.
Relaunches store
On Thursday, Mr. Kulhalli relaunched a large format store in Chennai and said they would be rolling out community-specific merchandise to vie with established players and non-bridal collections targeting younger generations.
During the fourth quarter, Tanishq posted a 22% growth while its subsidiary Caratlane recorded 42% growth, said S. Subramaniam, CFO, Titan Company Ltd., in a regulatory filing.