Writer: Pritie S Jadhav - Monday, Mar 20,2006 7:55 AM

Tanishq set to clock turnover in excess of Rs 700 crore by the end of 2006

Tanishq set to clock turnover in excess of Rs 700 crore by the end of 2006

Tanishq has become a highly visible jewellery brand in the Indian jewellery canvas over the years. Tanishq has been doing well over the last four to five years and has maintained a growth in excess of 30 per cent year-on-year, and this year has been no different. The brand is expected to close the year with a turnover in excess of Rs 700 crore.

Tanishq is targeting a 50 per cent year-on-year growth, and to achieve that it has scaled up its marketing efforts while lining up exclusive collections to be launched in the first quarter of 2006-07. As its first collection of 2006, Tanishq had launched 'Colors of Royalty' range of jewellery.

Speaking on the entire portfolio, Abhijit Achwal, Category Manager, Tanishq, said, "Tanishq aims to be the preferred jeweller by revitalising tradition, using traditional arts/designs in a contemporary manner and creating jewellery, which will set trends in the Indian market."

The jewellery brand is all set to launch an exclusive ruby collection in April 2006 followed by another launch in the next quarter. The company has earmarked a large investment for media campaigns and promotional event for these collections. The company had designed the crowns for the Miss India 2006 beauty pageant. The new range of jewellery collection will be available across Tanishq stores from April 7 onwards and will be also sold in international markets. A new advertisement campaign will be launched in April.

This 'Colors of Royalty' range of jewellery is an interpretation of the varied design aspects of the Victorian era that are found in Indian culture. The range is priced Rs 5,000 onwards.

Diamond jewellery accounts to about 10 per cent of the Rs 65,000 crore Indian jewellery market. Diamond jewellery contributes roughly 30-35 per cent to the total turnover of Tanishq.

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