BY:

PRATIK JAIN

INCEPTION
Tanishq was started in 1995 as a range of
jewellery and jewellery watches meant for the
European & American markets.
But due to Recession, supplying jewellery to
the Americans & Europeans was no longer
attractive proposition.
It was then Tanishq began to concentrate on
local market.
Tanishq hasbrought to the market a whole
new standard of business ethics and product
reliability.

JEWELLERY MARKET
OVERVIEW
India is the second largest consumer of gold

In India, GOLD accounts for nearly 20 per cent oftotal

Indian exports.
It provides employment to 1.3 million people directly
and indirectly .
India is also home to around 450,000 goldsmiths,
100,000 gold jewellers along with 6,000 diamond
processing players and 8,000 diamond jewellers.
India is not a major miner of precious metals and
stones, the countrys inexpensive and well skilled
workforce makes it a world leader in processing of
diamonds.

INTRODUCTION

Tanishq is a division ofTitan Company

Limited, a company promoted by theTATA
Group, one of India's largest conglomerates,
in collaboration with the Tamilnadu Industrial
Corporation(TIDCO).
The name was formed by combining the first
two letters from Tata and"NISHK"
(meaning gold coin or necklace inSanskrit).

FACT FILE

Milestones:
Tanishq is the first branded jewellery player.
In an organised market of 10% Tanishq has
around 4 % share.
Tanishq also introduced professional retailing in
the un-organized Indian jewelry bazaar.
Tanishq is the only jeweller to have a full- fledged
design studio with one of the largest design
teams in the country.
Titans 80% revenue is derived from Tanishq
It has opened two pilot stores at Chicago and New
Jersey with a retail format of 1,800-2,000 sq. ft.
Tanishq has 160 stores in 80 Indian cities; Gold
Plus has a presence in 21 towns.
The turnover for the previous year was

PRODUCT PROFILE
1. Tanishq diamonds
2. Tanishq gold
3. Tanishq platinum
4. Tanishq silver
Tanishq offers you a wide range of gold jewellery
in pure 22k. The range ofTanishq jewelleryhas
been designed to suit all occasions from
wedding to everyday wear. From the traditional
harams, mangalsutras and talis to the more
fashionable earrings, chains, bracelets and rings
etc.

MANUFACTURING FACILITY
Tanishq has its own manufacturing facilities, they
are spread across India at:-
1. Hosur (Tamilnadu)
2. Dehradun
3. Pantnagar (Uttarakhand)
Tanishq has set up its 1,35,000 sq. ft. production
factoryat Hosur, Tamil Nadu.
Well equipped with modern machinery, this factory
functions as the production and sourcing base for
the research of the jewellery crafts in India.
Every product here is painstakingly crafted to
perfection to keep in line with Tanishqs repute.

INTEGRATED SUPPLY CHAIN

MANAGEMENT
TitanCompany set up consists of advanced
technical know-how from the UK, Germany and
Switzerland.
The manufacturing at the Integrated Supply
Chain Management (ISCM) unit at Hosur, Tamil
Nadu follows Lost Wax Casting process. Some of
the key facilities for the process:
1. The refining plant with Swiss technology,
2. The alloying equipment, accurate assay testing
facilities and Yasui waxing
3. casting machines from Japan.
4. Led by the most up-to-date Swiss and Japanese
technologies

 Once the gold is given the shape of

desired ornaments, the following
process are take up to give it a final
look, such as :1. Stone fitting
2. Polishing
3. Buffing etc.
. Tanishqs functional as well as technical
expertise coupled with design and
world-class quality has transformed
sketches on paper into astonishing
masterpieces.

The difference between Tanishqs model of

sourcing and its competitors is shown below.

TARGET MARKET
Women living in metropolitan and
cosmopolitan cities, big towns etc.
Upper middle class and above
Age bracket:
20 30 year old newly married
31 40 year old married with children
41 55 year old with daughters of
marriageable age.

MARKET
PENETRATION
STRATEGY
Increase penetration in the domestic
markets and going abroad in order to
diversify its revenue portfolio.
In 2005, the company launched a new jewellery line,
Gold Plus, for semi-urban and rural areas thus
targeting all the segments and penetrate the
unorganised jewellery market.
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 was the first company to set up machinery to
measure kartage of gold purity.

MARKET STRATEGIES
TRANSMIGRATION OF DESIGNS: Tanishq started stocking
typical designs from Tamilnadu in Mumbai and those from Bengal
in Delhi yet being Indian , these designs provide variety to
customers.

CONTINOUS CHANGE IN DESIGNS: At least 10% of designs

were changed at quarterly basis and fresh stocks were added to
the stock.

OWN CHAIN OF RETAIL STORES: At starting phase the

company sold its product through multibrand stores. But now it
has 160 stores in 80 cities including metros.

INTRODUCTION OF KARAT METER: To check the purity of

gold without wasting it , they introduced Karat meter .It was
imported from Germany and it uses X-rays to check the purity of
gold . It proved to be the biggest USP for Tanishq.

RETURN GUARANTEE & EXCHANGE OFFER: They

STANDARDIZED PRICE: Tanishq decided to have a standard

gold price across all its showrooms from March 2000.

ENTRY LEVEL PRICE: The entry level price was as low as

Rs.600 (for a pendant).

LAUNCH OF (CSMM): Tanishq started customer satisfaction

measure program with the help of CSMM [Customer Satisfaction
Measure Management]. CSMM tracked customer satisfaction
parameters from Tanishq on a quarterly basis. This gave the
company the benefit of benchmarking against international &
local players.

CORPORATE GOLD GIFT SCHEME: This scheme was

launched in December 1998 and it proved to be a major success.
Tanishq delivered 50,000 customized gold coins to 0.25 million
Maruti car owners nationwide as a part of the 15th anniversary
celebrations of Maruti Udyog.

SEASONAL PROMOTION: They promoted their products

based on Indian festivals.

USP
Their main core competency is in
designing a wide range of products.
Each store has its own product catalogue.
They captured the market by trust.
Dedicated design studio.
Transparent pricing and certificate of
authenticity for gold and studded
jewellery.

FUTURE STRATEGIES

Consumer oriented
Investment in IT.
Online selling of gold- with the growing trend of online
selling Tanishq has also initiated to foray in online
selling of jewellery ornaments.
Global branding strategy.
More innovation in designs and wider product line will
boost their sales and in turn companys turnover.
Diversity in jewellery gold/diamond/platinum enhances
the product range of the company.
Target the youth audience.

How popular is Tanishq???

The brand name when that comes in mind
while buying branded jewellery

SALES
GEEETANJALI; 11%
ASMI; 3%

TANISHQ; 86%

SCOT
ANALYSIS

Strengths
One of the most trusted
jewelry brands in India
Titan Industries is a
subsidiary Tata Group
Excellent branding and
advertising
Offers simplistic and lowpriced jewelry for daily
wear

Opportunities
Customized jewelry
design
Tapping global
markets
Tie up with corporate
and business
partners
Enter whole sale
jewellery market.

concern
No much exports
competitive intensity
Shortage of skilled labor
Limited Global Presence
Wastage of gold
Peoples perception

Threats
Competition from large
unorganized sector as
well as local players
Government restriction
Fluctuating gold prices
Investors have stopped
investing in gold as a
hedge against inflation

ADVERTISEMENTS

CSR
CSR focus areas to achieve this goal
i. Education (with special focus on girl child, scholarships,
support to primary and secondary schooling etc).
ii. Health (including support to Eye care and differentlyabled).
iii. Employability creation (focusing on skill building,
women empowerment).
. Core theme of our CSR will continue to be initiatives
around the girl child.
. Its manufacturing units are located in backward districts
like Krishnagiri and Pantnagar and much of our
community initiatives focus on providing education and
health services in these areas.

CONCLUSION
Tanishqs foray into the jewellery segment was
criticised because it tried to do things in a different
way.
Tanishq had to struggle a lot in the beginning, Tanishq
performed very badly in the next three years from its
inception, posting a huge loss in 1997-1998, proving
its detractors right.
But things gradually changed and turned in favour of
Tanishq, and its unique concepts and designs where
being accepted.
Continuous innovation in product designs and
efficient manufacturing techniques has helps Tanishq
to provide wide variety of designs and also products
at low cost and in turn win customers confidence and

TANISHQ STORE
JAYNAGAR