It is a jewellery retailer unlike any other in India. Part of the leading Indian business conglomerate, House of Tatas, Tanishq is today the largest jewellery retailer, and functions with a professional set-up and has strong corporate values in place. Nilan Singh explores the latest addition to its already substantial number of retail outlets – the large format store at the heart of Mumbai's bustling Andheri suburb. %%
For years watches were the mainstay of Titan Industries, one of the Tata Group companies and cited as a success story in a world dominated by Swiss and Japanese timepieces. Interestingly, jewellery was not only an afterthought, it was initially seen more as a means rather than an end. It was the company's requirement for foreign exchange – a scarce commodity in the early 1990s – in order to import the components necessary for the manufacture of watches that spurred its diversification. Looking around for a suitable business to accomplish this, the head honchos of Titan found the jewellery business to be the ideal fit. It was not only a major and growing forex earner, and one supported by the central government, it also complemented the original business -- like watches, jewellery was also an article of adornment. Moreover, it was evident, major international brands had combined the two segments to great advantage. %%
In time, Tanishq's initial international foray took a turn with the changes in the economic environment – forex concerns eased up with greater policy liberalisation; the western markets slowed down and India emerged as one of the most promising markets. Tanishq turned its gaze inwards and concentrated on retail. The initial eight years or so were tough, a loss making period. And many laughed at the thought of this David in the land of the traditional retail giants – family jewellers who had put down roots over several generations and earned the consumers' trust and what was then believed, eternal loyalty. But the legendary vision of the Tata's, their staying power and impeccable strategising has turned Tanishq into a Goliath, a veritable behemoth in the jewellery retail scenario. %%
For Titan Industries Ltd itself, this transformation had a dramatic impact on its revenue pattern – today the jewellery business contributes to 76% of the company's topline! For the financial year 2010-11, total sales income for the company reached Rs.6570.86 crore and net profit grew by 71.9% for the same period to Rs.430.42 crore. Of this, the watches business notched an income of Rs.1266.46 crore; while the income from the jewellery segment was Rs.5027.23 crore and profit from jewellery touched Rs.429.10 crore for the year. Tanishq has been seeing a robust average growth of 40% for the last few years, a phenomenal achievement by any standard. %
No doubt objective factors like the overall positive growth of the Indian economy and the positive consumer sentiment have helped. But factors that contributed in large measure to this performance are: the aggressive but steady and consistent expansion on the retail front in a judicious mix of formats; products created on a deep understanding of the Indian consumer; complete transparency and high quality standards; a sustained marketing programme; and of course the trust that the brand has been able to build up, in no small measure due to its Tata parentage. All this with a thoroughly professional set up run on the basis of strong corporate values. %%
An important aspect has been the creation of the appropriate ambience for their jewellery. “For many, buying a piece of jewellery is akin to attaining a dream rather than just satisfying their shopping needs,†says Bhuwan Gaurav, Head Marketing – Tanishq, explaining the importance of creating a proper retail atmosphere. “It's very personal and emotional too. Thus an environment befitting such an experience is essential.†%%
Today, the Tanishq saga is spread across 126 stores in 76 cities all over India. And each store whether big or small reflects a philosophy, a singular approach. “The Brand stands for revitalising tradition,†says Gaurav further. “The philosophy is very much integral in jewellery design and manufacturing. Thus, a complementary ambience with contemporary interiors, subtle yet classy and comforting helps the jewellery to stand out in all its glory.†%%
The latest addition to the Tanishq stable is the large format store it recently launched in Mumbai's vibrant western suburb of Andheri, looking at the strong potential of the area. This showroom has been declared its flagship store in Mumbai.
The store was inaugurated by Amitabh Bachchan at a high voltage event attended by Titan top brass and other dignitaries. Speaking at the launch, C. K. Venkataraman, COO Tanishq commented, “Branded jewellery players have changed the face of the jewellery industry and consumers' mindset drastically in the last couple of years.†%%
Bachchan on his part said, “Tanishq has clearly established itself as a market leader while setting new benchmarks. It gives me immense pleasure to work and to be associated with an iconic brand such as Tanishq.†%%
Covering an area of 25,000 sq ft, the new store is the largest in the Tanishq stable, and, the company claims, for Mumbai as well. Aftab Bandukwala, principal architect for the project was assisted by the Tanishq Visual Merchandising and Store Design Studio in the creation of the store's interiors. %%
The imposing façade looms tall and is clad with the signature Tanishq jaali, custom made for the store. As one enters the showroom, one is struck by the soothing harmony created by the colour palette of brown, burgundy, rust and grey. %%
A sparkling Italian marble floor in beige, gets warmly blush-hued when reflecting the light of the exquisite and exotic chandeliers overhead. Lending further dazzle to the exquisite jewellery on display are a myriad LED-based lights, arranged in coves to provide illumination while at the same time conserving power consumption. Patina finished lamps add a final touch of warmth and drama.
Against this backdrop, the glorious jewellery is displayed in the traditional Tanishq style of storytelling. Each collection tells a tale and beckons the buyer enticingly. %%
The understated effect of an admix of wood, wall paper for the walls and display area and leatherette for the furniture creates an elegant look. The overall effect is heightened by tinted mirrors, graceful drapes and sheers, and crystal.
The entire ground floor of the showroom of 12,000 sq ft is devoted to a scintillating range of diamond jewellery. A well-appointed private viewing room and a luxurious lounge for high value purchases, where clients can be catered to in style, convey the customer-oriented approach of the retailer. This section also houses a ball room where special customer events can be organised. %%
The first floor houses Tanishq's plain gold jewellery collection. An exclusive wedding corner makes bridal purchases a delight. This floor also has a Heritage wall and the Nebula gold watches counter. %%
In prices ranging from an affordable Rs. 2000 to a luxurious Rs. 35 lakh, this store has the largest collection of jewellery comprising around 20,000 designs. There is something for every occasion in products from the traditional to classics to very innovative and differentiated designs. %%
Additional features not yet seen in a Mumbai jewellery outlet and which make the store truly a family destination are a Men's Lounge and a Kid's Corner. While the former, with its comfortable seating, music and magazines offers harried husbands the chance “to zone out†while wives drool over their shopping; the latter keeps children busy with drawing books, TVs showing cartoons and games. %%
Naturally, when so much has gone in to the creation of the ambience, the staff, who are the personal touchpoints for consumers are also special. “We look for very passionate people who fit the Tanishq culture,†says Gaurav. “They are specially trained at our factory. The training engagement is continuous using training audits and specially designed programmes for them.†%%
With the launch of this flagship store, Tanishq has added another plume to its already well-feathered cap. Naturally, the response has been terrific from Day 1. An obviously delighted Gaurav sums up the customer reaction: “They all have been enthralled at the space and the finesse of the store.†Need we say more?
|*“A complementary ambience with contemporary interiors, subtle yet classy and comforting helps the jewellery to stand out in all its glory."$$
“Additional features not yet seen in a Mumbai jewellery outlet and which make the store truly a family destination are a Men's Lounge and a Kid's Corner."*|
It is a jewellery retailer unlike any other in India. Part of the leading Indian business conglomerate, House of Tatas, Tanishq is today the largest jewellery retailer, and functions with a professional set-up and has strong corporate values in place. Nilan Singh explores the latest addition to its already substantial number of retail outlets – the large format store at the heart of Mumbai's bustling Andheri suburb. %%
For years watches were the mainstay of Titan Industries, one of the Tata Group companies and cited as a success story in a world dominated by Swiss and Japanese timepieces. Interestingly, jewellery was not only an afterthought, it was initially seen more as a means rather than an end. It was the company's requirement for foreign exchange – a scarce commodity in the early 1990s – in order to import the components necessary for the manufacture of watches that spurred its diversification. Looking around for a suitable business to accomplish this, the head honchos of Titan found the jewellery business to be the ideal fit. It was not only a major and growing forex earner, and one supported by the central government, it also complemented the original business -- like watches, jewellery was also an article of adornment. Moreover, it was evident, major international brands had combined the two segments to great advantage. %%
In time, Tanishq's initial international foray took a turn with the changes in the economic environment – forex concerns eased up with greater policy liberalisation; the western markets slowed down and India emerged as one of the most promising markets. Tanishq turned its gaze inwards and concentrated on retail. The initial eight years or so were tough, a loss making period. And many laughed at the thought of this David in the land of the traditional retail giants – family jewellers who had put down roots over several generations and earned the consumers' trust and what was then believed, eternal loyalty. But the legendary vision of the Tata's, their staying power and impeccable strategising has turned Tanishq into a Goliath, a veritable behemoth in the jewellery retail scenario. %%
For Titan Industries Ltd itself, this transformation had a dramatic impact on its revenue pattern – today the jewellery business contributes to 76% of the company's topline! For the financial year 2010-11, total sales income for the company reached Rs.6570.86 crore and net profit grew by 71.9% for the same period to Rs.430.42 crore. Of this, the watches business notched an income of Rs.1266.46 crore; while the income from the jewellery segment was Rs.5027.23 crore and profit from jewellery touched Rs.429.10 crore for the year. Tanishq has been seeing a robust average growth of 40% for the last few years, a phenomenal achievement by any standard. %
No doubt objective factors like the overall positive growth of the Indian economy and the positive consumer sentiment have helped. But factors that contributed in large measure to this performance are: the aggressive but steady and consistent expansion on the retail front in a judicious mix of formats; products created on a deep understanding of the Indian consumer; complete transparency and high quality standards; a sustained marketing programme; and of course the trust that the brand has been able to build up, in no small measure due to its Tata parentage. All this with a thoroughly professional set up run on the basis of strong corporate values. %%
An important aspect has been the creation of the appropriate ambience for their jewellery. “For many, buying a piece of jewellery is akin to attaining a dream rather than just satisfying their shopping needs,†says Bhuwan Gaurav, Head Marketing – Tanishq, explaining the importance of creating a proper retail atmosphere. “It's very personal and emotional too. Thus an environment befitting such an experience is essential.†%%
Today, the Tanishq saga is spread across 126 stores in 76 cities all over India. And each store whether big or small reflects a philosophy, a singular approach. “The Brand stands for revitalising tradition,†says Gaurav further. “The philosophy is very much integral in jewellery design and manufacturing. Thus, a complementary ambience with contemporary interiors, subtle yet classy and comforting helps the jewellery to stand out in all its glory.†%%
The latest addition to the Tanishq stable is the large format store it recently launched in Mumbai's vibrant western suburb of Andheri, looking at the strong potential of the area. This showroom has been declared its flagship store in Mumbai.
The store was inaugurated by Amitabh Bachchan at a high voltage event attended by Titan top brass and other dignitaries. Speaking at the launch, C. K. Venkataraman, COO Tanishq commented, “Branded jewellery players have changed the face of the jewellery industry and consumers' mindset drastically in the last couple of years.†%%
Bachchan on his part said, “Tanishq has clearly established itself as a market leader while setting new benchmarks. It gives me immense pleasure to work and to be associated with an iconic brand such as Tanishq.†%%
Covering an area of 25,000 sq ft, the new store is the largest in the Tanishq stable, and, the company claims, for Mumbai as well. Aftab Bandukwala, principal architect for the project was assisted by the Tanishq Visual Merchandising and Store Design Studio in the creation of the store's interiors. %%
The imposing façade looms tall and is clad with the signature Tanishq jaali, custom made for the store. As one enters the showroom, one is struck by the soothing harmony created by the colour palette of brown, burgundy, rust and grey. %%
A sparkling Italian marble floor in beige, gets warmly blush-hued when reflecting the light of the exquisite and exotic chandeliers overhead. Lending further dazzle to the exquisite jewellery on display are a myriad LED-based lights, arranged in coves to provide illumination while at the same time conserving power consumption. Patina finished lamps add a final touch of warmth and drama.
Against this backdrop, the glorious jewellery is displayed in the traditional Tanishq style of storytelling. Each collection tells a tale and beckons the buyer enticingly. %%
The understated effect of an admix of wood, wall paper for the walls and display area and leatherette for the furniture creates an elegant look. The overall effect is heightened by tinted mirrors, graceful drapes and sheers, and crystal.
The entire ground floor of the showroom of 12,000 sq ft is devoted to a scintillating range of diamond jewellery. A well-appointed private viewing room and a luxurious lounge for high value purchases, where clients can be catered to in style, convey the customer-oriented approach of the retailer. This section also houses a ball room where special customer events can be organised. %%
The first floor houses Tanishq's plain gold jewellery collection. An exclusive wedding corner makes bridal purchases a delight. This floor also has a Heritage wall and the Nebula gold watches counter. %%
In prices ranging from an affordable Rs. 2000 to a luxurious Rs. 35 lakh, this store has the largest collection of jewellery comprising around 20,000 designs. There is something for every occasion in products from the traditional to classics to very innovative and differentiated designs. %%
Additional features not yet seen in a Mumbai jewellery outlet and which make the store truly a family destination are a Men's Lounge and a Kid's Corner. While the former, with its comfortable seating, music and magazines offers harried husbands the chance “to zone out†while wives drool over their shopping; the latter keeps children busy with drawing books, TVs showing cartoons and games. %%
Naturally, when so much has gone in to the creation of the ambience, the staff, who are the personal touchpoints for consumers are also special. “We look for very passionate people who fit the Tanishq culture,†says Gaurav. “They are specially trained at our factory. The training engagement is continuous using training audits and specially designed programmes for them.†%%
With the launch of this flagship store, Tanishq has added another plume to its already well-feathered cap. Naturally, the response has been terrific from Day 1. An obviously delighted Gaurav sums up the customer reaction: “They all have been enthralled at the space and the finesse of the store.†Need we say more?
|*“A complementary ambience with contemporary interiors, subtle yet classy and comforting helps the jewellery to stand out in all its glory."$$
“Additional features not yet seen in a Mumbai jewellery outlet and which make the store truly a family destination are a Men's Lounge and a Kid's Corner."*|
It is a jewellery retailer unlike any other in India. Part of the leading Indian business conglomerate, House of Tatas, Tanishq is today the largest jewellery retailer, and functions with a professional set-up and has strong corporate values in place. Nilan Singh explores the latest addition to its already substantial number of retail outlets – the large format store at the heart of Mumbai's bustling Andheri suburb. %%
For years watches were the mainstay of Titan Industries, one of the Tata Group companies and cited as a success story in a world dominated by Swiss and Japanese timepieces. Interestingly, jewellery was not only an afterthought, it was initially seen more as a means rather than an end. It was the company's requirement for foreign exchange – a scarce commodity in the early 1990s – in order to import the components necessary for the manufacture of watches that spurred its diversification. Looking around for a suitable business to accomplish this, the head honchos of Titan found the jewellery business to be the ideal fit. It was not only a major and growing forex earner, and one supported by the central government, it also complemented the original business -- like watches, jewellery was also an article of adornment. Moreover, it was evident, major international brands had combined the two segments to great advantage. %%
In time, Tanishq's initial international foray took a turn with the changes in the economic environment – forex concerns eased up with greater policy liberalisation; the western markets slowed down and India emerged as one of the most promising markets. Tanishq turned its gaze inwards and concentrated on retail. The initial eight years or so were tough, a loss making period. And many laughed at the thought of this David in the land of the traditional retail giants – family jewellers who had put down roots over several generations and earned the consumers' trust and what was then believed, eternal loyalty. But the legendary vision of the Tata's, their staying power and impeccable strategising has turned Tanishq into a Goliath, a veritable behemoth in the jewellery retail scenario. %%
For Titan Industries Ltd itself, this transformation had a dramatic impact on its revenue pattern – today the jewellery business contributes to 76% of the company's topline! For the financial year 2010-11, total sales income for the company reached Rs.6570.86 crore and net profit grew by 71.9% for the same period to Rs.430.42 crore. Of this, the watches business notched an income of Rs.1266.46 crore; while the income from the jewellery segment was Rs.5027.23 crore and profit from jewellery touched Rs.429.10 crore for the year. Tanishq has been seeing a robust average growth of 40% for the last few years, a phenomenal achievement by any standard. %
No doubt objective factors like the overall positive growth of the Indian economy and the positive consumer sentiment have helped. But factors that contributed in large measure to this performance are: the aggressive but steady and consistent expansion on the retail front in a judicious mix of formats; products created on a deep understanding of the Indian consumer; complete transparency and high quality standards; a sustained marketing programme; and of course the trust that the brand has been able to build up, in no small measure due to its Tata parentage. All this with a thoroughly professional set up run on the basis of strong corporate values. %%
An important aspect has been the creation of the appropriate ambience for their jewellery. “For many, buying a piece of jewellery is akin to attaining a dream rather than just satisfying their shopping needs,†says Bhuwan Gaurav, Head Marketing – Tanishq, explaining the importance of creating a proper retail atmosphere. “It's very personal and emotional too. Thus an environment befitting such an experience is essential.†%%
Today, the Tanishq saga is spread across 126 stores in 76 cities all over India. And each store whether big or small reflects a philosophy, a singular approach. “The Brand stands for revitalising tradition,†says Gaurav further. “The philosophy is very much integral in jewellery design and manufacturing. Thus, a complementary ambience with contemporary interiors, subtle yet classy and comforting helps the jewellery to stand out in all its glory.†%%
The latest addition to the Tanishq stable is the large format store it recently launched in Mumbai's vibrant western suburb of Andheri, looking at the strong potential of the area. This showroom has been declared its flagship store in Mumbai.
The store was inaugurated by Amitabh Bachchan at a high voltage event attended by Titan top brass and other dignitaries. Speaking at the launch, C. K. Venkataraman, COO Tanishq commented, “Branded jewellery players have changed the face of the jewellery industry and consumers' mindset drastically in the last couple of years.†%%
Bachchan on his part said, “Tanishq has clearly established itself as a market leader while setting new benchmarks. It gives me immense pleasure to work and to be associated with an iconic brand such as Tanishq.†%%
Covering an area of 25,000 sq ft, the new store is the largest in the Tanishq stable, and, the company claims, for Mumbai as well. Aftab Bandukwala, principal architect for the project was assisted by the Tanishq Visual Merchandising and Store Design Studio in the creation of the store's interiors. %%
The imposing façade looms tall and is clad with the signature Tanishq jaali, custom made for the store. As one enters the showroom, one is struck by the soothing harmony created by the colour palette of brown, burgundy, rust and grey. %%
A sparkling Italian marble floor in beige, gets warmly blush-hued when reflecting the light of the exquisite and exotic chandeliers overhead. Lending further dazzle to the exquisite jewellery on display are a myriad LED-based lights, arranged in coves to provide illumination while at the same time conserving power consumption. Patina finished lamps add a final touch of warmth and drama.
Against this backdrop, the glorious jewellery is displayed in the traditional Tanishq style of storytelling. Each collection tells a tale and beckons the buyer enticingly. %%
The understated effect of an admix of wood, wall paper for the walls and display area and leatherette for the furniture creates an elegant look. The overall effect is heightened by tinted mirrors, graceful drapes and sheers, and crystal.
The entire ground floor of the showroom of 12,000 sq ft is devoted to a scintillating range of diamond jewellery. A well-appointed private viewing room and a luxurious lounge for high value purchases, where clients can be catered to in style, convey the customer-oriented approach of the retailer. This section also houses a ball room where special customer events can be organised. %%
The first floor houses Tanishq's plain gold jewellery collection. An exclusive wedding corner makes bridal purchases a delight. This floor also has a Heritage wall and the Nebula gold watches counter. %%
In prices ranging from an affordable Rs. 2000 to a luxurious Rs. 35 lakh, this store has the largest collection of jewellery comprising around 20,000 designs. There is something for every occasion in products from the traditional to classics to very innovative and differentiated designs. %%
Additional features not yet seen in a Mumbai jewellery outlet and which make the store truly a family destination are a Men's Lounge and a Kid's Corner. While the former, with its comfortable seating, music and magazines offers harried husbands the chance “to zone out†while wives drool over their shopping; the latter keeps children busy with drawing books, TVs showing cartoons and games. %%
Naturally, when so much has gone in to the creation of the ambience, the staff, who are the personal touchpoints for consumers are also special. “We look for very passionate people who fit the Tanishq culture,†says Gaurav. “They are specially trained at our factory. The training engagement is continuous using training audits and specially designed programmes for them.†%%
With the launch of this flagship store, Tanishq has added another plume to its already well-feathered cap. Naturally, the response has been terrific from Day 1. An obviously delighted Gaurav sums up the customer reaction: “They all have been enthralled at the space and the finesse of the store.†Need we say more?
|*“A complementary ambience with contemporary interiors, subtle yet classy and comforting helps the jewellery to stand out in all its glory."$$
“Additional features not yet seen in a Mumbai jewellery outlet and which make the store truly a family destination are a Men's Lounge and a Kid's Corner."*|
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