RETAIL: Tanishq jewelry, now at a mall near you

Tanishq, the upscale jewelry group of Titan Industries Ltd. entered US retail with a jewelry boutique in Chicago. And a second is to follow at Garden State Plaza Shopping Center in Paramus, NJ, which is going to be one of 20 stores listed under Fine Jewelry and Watches at the mall. A bit about their business plans, from Smita Aggarwal’s January article in the Indian Express,

To expand its retail presence overseas, Tata's promoted Tanishq, the jewellery business group of Titan Industries, will be coming up with its two stores in United States by 2008-end.

Speaking to The Indian Express on sidelines of a conference, the vice president Retail and Marketing, Jewellery, V Govindraj said, "Tanishq would be opening two jewellery boutiques in US by this year end. These stores will be company owned and are on a pilot basis."

With an interesting product mix, the company will be including a large part of its jewellery design mix, targeted at ethnic Indians. "Clearly, a large part of the product mix will be for ethnic Indians and Non Resident Indians (NRI)," said Govindraj.

These stores will add to its international portfolio since it has a presence in Middle East and far East nations like UAE and Singapore. Most of these stores are in a shop-in-shop format, operating in existing jewellery stores. "The export sales constitute around 6-7 per cent of our total sales," said Govindraj.

From Diamond World, a trade journal August article:

Tanishq has stepped foot into the US retail market, and opened its first store in Woodfield Mall, Chicago, which is part of its plan to open 25 stores in the US. The store will deliver both permanent and revolving jewellery collections. The company plans to initially retail jewellery along the themes of Yoga, Spring and Lotus, inspired by nature and philosophy.

According to the website, the brand was launched in 1995 and retails at 91 stores in 64 cities.

In an impressive display of production promotion, Tanishq jewelry was worn by Aishwarya Rai and Hrithik Roshan in the historical film Jodhaa Akbar launched earlier this year. The Jodhaa Akbar Collection was ‘previewed in select cities’ in a somewhat original-16th-century-Mughal-jewelry-traveling-exhibition sort of way, lending a sense of authenticity and authority to the brand.

But if you're looking for that exotic Indian pedigree on the Tanishq US website, you have to search hard. There is hardly any mention of the brand's roots in India, aside from saying that its "the most sought-after brand in the largest jewelry market in the world, India." Even the backgrounder on the Tata corporation, while mentioning its roots in the 19th century, elides any specific sense of place.
And the brand copy is similar:

Tanishq USA is poised to change the jewelry experience with an aesthetic that is truly international in style and culture. But what truly defines the group is their commitment to the world it lives in. More than half of the profits go back into making the society better. Building stronger communities through progress and excellence in academics, science, design and technology.

Let us know what you think.

Comments

[Jaya Kamlani]

Wrong time to be opening a jewelry store in America. Today, I passed by a street across a mall where someone was holding a poster of a mall jewelry store going out-of-business. The poster advertising read: Sale ... 60-70% off regular price.

You can sell Tanishq jewelry or anything expensive in Dubai today, but not in America. They are celebrating openings of grand hotels in Dubai with dazzling fireworks and fanfare, but here in America we will be dimming many lights at Times Square.

With gold prices shooting through the roof, and American consumers finding it hard to keep food on the table and a roof over their heads, they are not going to have money left over to buy jewelry this December, or anytime soon. Although, I must admit I had bought a couple of pieces of jewelry from the Tanishq store in Delhi, a few years ago when gold was cheaper. It is western-style jewelry and the finish is smooth (not jagged). It will not pull threads from your silk clothes or sari. Perfect for NRI taste. So if you have money to spare, do indulge in Tanishq jewelry.

Jaya Kamlani

[Jaya Kamlani]

I think I may have spoken of Dubai too soon. It made headlines today. Yet I cannot believe the grand opening of a hotel in Dubai shown on CNN this past week.

“Boom turns to gloom as crisis hits Dubai”
http://economictimes.indiatimes.com/articleshow/3746936.cms (full story)

DUBAI: The seaside emirate of Dubai shifted into crisis mode this week as its breakneck building boom stalled, its lending bonanza evaporated and the government pondered wider steps to rescue banks. Dubai - self-styled bling capital of the Middle East, nightclub hotspot for the teetotalling Gulf and home to the world's tallest building and biggest mall - has gone pear-shaped.

"It's gotten pretty ugly out there," analysts at Nomura Investment Banking wrote in a note this week, describing Dubai's property market as "a full-scale frenzy in which speculation went largely unchecked until it was very late."….. Now, investors fear that individuals and corporations alike will have trouble paying back Dubai's non-bank foreign currency
debt estimated at just under $70 billion, according to estimates by ratings agency Fitch.

Many had hoped that the six countries of the Gulf Cooperation Council (GCC) would escape the crisis due to their massive current account surpluses from energy exports, but…….. (read story)

P.S: I recall Donald Trump working on a large development project in Dubai.

Jaya Kamlani

[sell scrap gold]

Nice article. Sure I will visit to this jewelry shop.

[selling gold jewelry]

Hi,
Nice post.Can anyone tell me about the antique jewellery? How far we can trust Tanishq's antique jewellery? Is it worthy?...