The Rs 960-crore Titan Industries Ltd is planning to take its ‘Tanishq’ jewellery brand global. For, the company is eyeing countries such as Vietnam, Indonesia, Russia, Canada, and, CIS countries for exports, soon. The objecive behind the move is to tap the huge demand opportunity for jewellery in the international markets with an aim to garner a volume growth of 20 per cent in the jewellery segment through exports, in the next two to three years. At present, Tanishq has 67 boutiques in 52 cities in India, Mr Bhaskar Bhatt, managing director, Titan Industries Ltd told FE, “Prior to the move, Titan Industries has recently implemented exports of Titan watches to countries such as Vietnam, Indonesia, Russia, Canada and CIS countries, very soon. And, since the early nineties, Titan has been spreading its wings overseas, and, has been exporting Titan watches to 40 countries around the world. At present, Titan exports ‘Tanishq’ jewellery to few countries which is not sufficient since demand is fast emerging from other markets, as well.
According to Mr Bhatt: “We are planning to invest Rs 40 crore on the brand-building exercises for both, watches, and, jewellery. However, we are not looking at hiving off ‘Tanishq’ into a separate jewellery brand.”
Apart from this, after having recently started the implementation of marketing ‘FLIP’, world’s first dual-faced watch, under the umbrella brand ‘Titan’, through select 300 premium retail outlets, across the country, Titan Industries has recently launched Titan ‘Crown’ a mix of fashion accessory range crafted with diamonds, precious gold, semi-precious stones to create a dazzling watch collection.
Said Mr Bhatt, the on-going watch exchange offer has taken off well and we have garnered a 200 per cent growth in the watch segment, this year.