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Tanishq makes US debut, unveils 'Impure to Pure' campaign

BS Corporate Bureau

Tanishq, the jewellery division of Titan Industries, has forayed into the US market as part of its expansion plans. The company already exports its jewellery to the UK, the Far East and the Middle East region.

Harish Bhat, vice-president (sales and marketing), Tanishq, Titan Industries, said, "The company has recently forayed into the US market catering to the large non-resident Indian community. The launch was through a chain of local jewellers in the region."

Exports contribute about 10 per cent to the total turnover of Tanishq. However, Titan's thrust will be to consolidate its position in the domestic market, Bhat added.

Despite depressed market conditions, Tanishq has grown over 40 per cent for the year ended March 31, he said.

The jewellery market in the country is estimated around Rs 400 billion, primarily dominated by the unorganised sector.

Branded jewellery-which was practically non-existent five years ago-is now worth Rs 4 billion and is expected to touch Rs 15 billion in next five years.

At present, more than 70 per cent of the company's revenue comes from watches, while the remaining comes from Tanishq.

The company's diversification plans would see it entering segments such as pens, sunglasses, leather products and such other items under the Titan brand as it wants to position itself as a personal adornment company rather than just as a watch and jewellery entity.

Titan Industries is a joint venture between the Tatas and Tamil Nadu Industrial Development Corporation. The venture started in 1986, entered jewellery retailing in 1994-95.

Tanishq operates through a chain of 53 exclusive boutiques across the country and has a manufacturing facility at Hosur, Tamil Nadu.

The company on Tuesday launched a jewellery exchange scheme called 'Impure to Pure' where buyers can exchange their impure jewellery of upto 19 karat for Tanishq's 22 karat jewellery at no extra cost.

However, for karatage below 19, the customer will have to bear the difference.

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