Tanishq to add 30 stores in FY15, expanding its network by 18%
Titan's jewellery arm plans to grow from 167 outlets by opening 30 new stores in FY15, targeting smaller towns. The CEO cites easing import-driven sluggishness and rising demand for diamond, designer and light-weight jewellery. Tanishq holds ~4% of a Rs 250,000-crore market that is only 30% organised.
Tanishq, Titan's jewellery arm, plans to add 30 stores in FY15, an 18% network expansion from 167 outlets, targeting new towns. CEO cites import-driven sluggishness easing and higher demand in diamond, designer and light-weight jewellery.
Why this matters
Tanishq's domestic FY15 expansion into smaller towns parallels its overseas push, following its US debut in New Jersey and plans to enter Chicago as it courts the Indian diaspora.
Store-opening activity is steady, with 466 signals recorded in the last 90 days.