Monday, 21st February 2005 (4296 views)

Tanishq, a division of Titan Industries, have announced extensive expansion plans for the current financial year.

"We are targeting a turnover of Rs 550-600 crore by the end of the current fiscal", V Govind Raj, Titan Industries' general manager for retail operations and sales, explained to Business Standard.

Sales in 2003-04 reached Rs 425 crore, placing Tanishq far ahead of other jewellery brands in India. The company already has seventy showrooms spread across 54 cities in the country.

It was whilst inaugurating a showroom in Surat that Mr Govind Raj spoke about the company's projections.

Tanishq intend to open between 30 and 40 outlets in the coming months, and to bring their total to 100 outlets in the near future.

The plans are inspired by the perceived growth in demand for branded diamond jewellery. Mr Govind Raj also expressed his confidence that customer demand will continue to increase in coming years.

"Tanishq is by far the biggest jewellery brand in the country", he told Business Standard.

"Our turnover is three to four times our nearest competitor, and even network-wise, we are much more ahead than any other jewellery brand."

 

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