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Industry Profile: Combination of Tata/Tamil Nadu and Nishq (Meaning A Necklace of Gold Coins)

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jassi nishad
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30 views

Industry Profile: Combination of Tata/Tamil Nadu and Nishq (Meaning A Necklace of Gold Coins)

Uploaded by

jassi nishad
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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INDUSTRY PROFILE

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 behavior, 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 licenses were easy to obtain and the global
demand-supply equation for jewellery had shifted in favors 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.

COMPANY PROFILE
Tanishq is India's largest, most desirable and fastest growing jewelry brand in India. Started in
1995, Tanishq is the jewelry business group of Titan Industries Ltd - promoted by the TATA
group, India's most respected and widely diversified business conglomerate. It is located in
Hosur (spicot).

This year marks a decade of successful innings for Tanishq. With retail sales of 1200 crore last
years and gunning for 2000 crores this year, Tanishq has arrived in the Indian jewelry market. It
is a story of a successful Indian enterprise, which has delivered value to its customers and
shareholders in a complex category, marked by its completely localized front end as well as back
end.

Tanishq has set up production and sourcing bases with through research of the jewelry crafts of
India. Jewellry at Tanishq is crafted in one of the world's most modern factories. The factory
complies with all labour and environmental standards. Located at Hosur, Tamil Nadu, the 1,
35,000 sq. ft. factory is equipped with the latest and most modern machinery and equipment.
Every product at Tanishq is painstakingly crafted to perfection. Diligent care and quality
processes ensure that the Tanishq finish is unmatched by any other jeweller in the country.

Tanishq challenged the age-old jeweller's word with TATA's guaranteed purity. It exploded the
market with facts about rampant impurity across India. It introduced technology-backed
challenge in a category completely governed by individual trust. Tanishq introduced innovations
like Karatmeter, the only non destructive means to check the purity of gold.

Tanishq also introduced professional retailing in the dis-organised Indian jewelry bazaar, where
women can shop with comfort and peace, without worrying about the purity of the jewelry they
are buying, as well as, select from the best jewelry collections available in the Indian market.
Tanishq today is India's most aspirational fine jewelry brand with 91 stores in 64 cities, with an
exquisite range of gold jewelry studded with diamonds or coloured gems and a wide range of
equally spectacular jewelry in 22Kt pure gold. Exquisite platinum jewelry is also part of the
product range.

Jewellery is one of the last great commodity frontiers in India; it has remained so because this
market is very fragmented, very unorganized. Tanishq has successfully taken on the
challenges of transforming this frontier into a reliable consumer space by bringing to it all the
virtues and benefits that branding offers".

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