Tanishq: A Sparkling Journey

The Tanishq saga began in the early 1990's, primarily fuelled by the fabled Tata entrepreneurial spirit and partly forced by circumstance. The splendid Titan watches success story was already up and running, and happened to need more foreign exchange to purchase the imported components and machines required to keep up with the burgeoning watch production. But with India going through a foreign exchange crisis, there was no help coming in, forcing Titan to search for a business that would earn them the required foreign currency. Indian-made jewellery was already a big foreign currency earner and being strongly supported by the central government, and also happened to be a very good fit with the watch business as articles of adornment.The best known brand names in both Europe and America had watches and jewellery together, offering further proof that the two industries are intrinsically linked.

It was a business with a huge wealth potential and it added a very feminine offering to Tata's long line of products that appealed mostly to the opposite gender. It also called for an organization that inspired trust and had high order design, manufacturing, marketing and retailing skills, and Tata fit the bill on all accounts. Tanishq was coined from a combination of Tata/Tamil Nadu and Nishq (meaning a necklace of gold coins) and, again, from Tan, meaning body and Ishq, meaning love. It was launched in 1994 as a range of jewellery and jewellery watches meant for the European & American markets. But things began to change globally around this time, and the West entered a protracted period of slow economic growth followed by recession. Supplying jewellery to the Americans & Europeans suddenly no longer seemed an attractive proposition.

Initially, the criticism for Titan's foray into jewellery was loud and often bitter. Eventually, however, the critics were silenced. Tanishq, today, is perhaps the only major Tata brand with a strong appeal for women. Very importantly, Tanishq has brought to the market a whole new standard of business ethics and product reliability, in the process bringing about a transformation in the manner in which jewellery is bought and sold in India. It has created a revolution in the Indian jewellery trade and in jewellery buying behaviour, and continues to set new parameters of excellence for others to follow. The Indian market, on the other hand, opened its doors to the world, and was now flooded with foreign currency. By the time Tanishq established its manufacturing facility and entered the market, the premises on which the project was based had altered substantially. Foreign currency was no longer an issue, import licences were easy to obtain and the global demandsupply equation for jewellery had shifted in favour of buyers. Tanishq, therefore, switched tracks and shifted its focus to the Indian market and develop a somewhat grandiose vision of the brand as a composite avatar of Cartier, Tiffany, Esprit, and Ernest Jones all rolled in one.

Tanishq
Tanishq, India's largest, most trusted and fastest growing jewellery brand, offers traditional as well as trendy designs in gold, diamond and platinum. With retail sales of over Rs. 8000 crores last financial year, Tanishq has delivered value to its customers and shareholders. Backed by in-depth research in the jewellery space, the production and sourcing units of Tanishq create exquisite designs with faultless finish. Located at Hosur (Tamil Nadu) the 1,35,000 sq. ft. manufacturing unit is equipped with the latest and most up-to-date technology and tools. The unit also complies with the labour and environmental standards. There are two units in Dehradun and Pantnagar (Uttarakhand) in India. Stringent quality standards ensure that every product at Tanishq is crafted to perfection with unmatched finish. With innovations like the Karatmeter the only non-destructive means to check the purity of gold. Tanishq introduced technology backed challenge in the category completely governed by individual trust. The brand propagates ethical practices and provides the customer a certification of purity of material and reselling policies. Following the line of ethical practice further, adequate policies are in place for the artisans who create the jewellery. Tanishq has a Golden Harvest savings scheme which is a unique jewellery purchase scheme, leading to an easy purchase of Tanishq jewellery of your choice. With this scheme you can buy for more than what you save because Tanishq will add a special bonus at the end of the scheme. Tanishq introduced specialized retailing in the fragmented jewellery market of India. Today, with over 157 opulent stores in over 89 Indian cities, Tanishq continues to rule the jewellery space.

Jewellery Division
Tanishq Titan's flagship line of jewellery is today a resounding success with discerning customers. Tanishq has performed exceedingly well and has set standards, in what could best be described as a largely unorganised and unscrupulous Indian jewellery market. The growth of the brand has once again been a testament to our customer focus. Tanishq is today a hallmark of trust, an island of purity. It is a certified division under the ISO 9001:2008 Quality Management System Standards and the current version of Environment Management System Standard is ISO 14001:2004. Tanishq is India's fastest growing jewellery brand with a premium range of jewellery, studded with diamonds or coloured gems in 18 kt gold, 22 kt pure gold and platinum jewellery. We are now one of India's largest speciality retailers and are transforming India's jewellery market with a pan - India presence. Titan felt a need and created a means to offer elegant gold jewellery to smaller towns and rural markets. The recent launch of a retail initiative - Goldplus caters to the need. Both brands contribute to over Rs.1450 million USD, and are still flourishing. Truly a phenomenon in itself, Tanishq is our pioneering Indian brand storming a market of over 400,000 independent jewellers. The brand is evolving faster than the market and is either leading or closing gaps between competitors in urban markets where we have a presence. The trust connotations that the Tata - Titan association evokes, never fails to attract increasing numbers of jewellery seekers to the fledgling designer brand. Titan ensures that they are spoilt for choice, transparency and a great shopping experience with Tanishq, the jewel of its crown. Tanishq is a trustworthy, popular jewellery brand from India's largest integrated jewellery manufacturer. Zoya, by Tanishq is a chain of luxury jewellery boutiques which targets elite, discerning ladies seeking designer wear of international standards. Zoya is a best-in-class shopping experience. Stores offer exquisite, artistically styled masterpieces, studded in diamonds, apart from traditional, fusion polki and kundan jewellery. There are magnificent designs to choose from, all in ultra-premium luxury, these outlets showcase luxury unsurpassed. Zoya creations are world-class in terms of quality and have been crafted in India and abroad. It boasts the finest quality in India and is on par with the best in the world. Zoya stores are located in GK I, M Block - Delhi and Warden Road Mumbai in India.

Tanishq

Parent Company

Tata Group

Category

Jeweler and Diamonds

Sector

Lifestyle and Retail

Tagline/ Slogan

Pure Jewellery Pure Joy; Pure India Pure Tanishq

USP

One of the largest jewelry brands in India STP

Segment

Women who love jewelry

Target Group

Urban women premium and upper class

Tanishq diamonds embark the aspiration of emerging Indian women Positioning who uses tradition rather than being used by it SWOT Analysis

1. One of the most trusted jewelry brands in India 2. Strong backing of the Titan Industries of the Tata Group 3. Excellent branding and advertising through TVCs and print ad campaigns 4. Association with celebrities as brand ambassadors to reach out to the customers 5. Apart from Indian jewelry in wedding and diamond collections, also offers simplistic and low-priced jewelry for daily wear Strength 6. Has its presence in over 100 Indian cities

1. Limited global presence as compared to a few other international brands 2. Tough competition from other jewelry brands means limited scope of Weakness growth

1. Global penetration in other countries 2. Acquisition of smaller businesses to increase brand position and reach Opportunity 3. Tie-ups with corporate and business partners

1. Economic fluctuations mean people decrease their spending 2. Govt policies, taxes etc also affect the premium jewellery segment Threats 3. Trends change quickly, hence innovations and R&D are investments Competition

1. De Beers 2.Nakshatra 3.Ddamas 4. TBZ Competitors 5. Reliance Jewels