The store, spanning across 11000 sq. ft., features an exclusive zone on each of the four floors, including an Exclusive Wedding Zone and Exclusive High Value Diamond Zone
There was a time when people relied heavily on their trusted neighbourhood family jeweller for all their gold and diamond jewellery requirements, assured that he/she will not cheat them on purity, weight or price. Till the early 90s the unorganised sector commanded a lion’s share (around 95%) of the total jewellery retail market.
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But things have changed since then, and drastically so in the last five years, when the market share of the organised sector jumped from 20% to 35% as the fast-growing domestic jewellery retail trade and exports attracted a host of big players in the field.
Tata brand Tanishq, the country’s first jewellery retail chain, revolutionised the way people shopped for jewellery by winning trust through best practices. This included the introduction of the ‘karatmeter’ in its stores, which allowed customers to verify if the jewellery they bought from their local jeweller was truly 22-carat gold or not.
1/5th market share, but competition growing
After more than two decades of dominance, the Tata jewellery brand continues to hold around one-fifth market share of the organised jewellery retail trade in the country, though it is facing increased competition from other retail chains like Reliance Jewels, Malabar Gold and Diamonds, Kalyan Jewellers, Bhima Jewellers, Joyalukkas, Tribhovandas Bhimji Zaveri (TBZ) Jewellery, Senco Gold and Diamonds, etc.
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The latest big-bang entrant is the Aditya Birla Group, which has announced the launch of its new brand ‘Indriya’. The group will be investing a whopping Rs 5,000 crores to tap into India’s booming jewellery market valued at over Rs 6 lakh crores, with an ambitious five-year target of becoming one of the top three jewellery retailers in the country.
Sector 17 Chandigarh brand store, biggest in Upper North
Coming to the headline of this piece, the 27 years young Tanishq brand store in Sector 17-C has become even bigger and grander with still another floor being added to the existing three, to make it the biggest Tanishq brand store in entire Upper North, including Punjab, Haryana, Chandigarh, Himachal Pradesh, Uttarakhand and Jammu & Kashmir.
The store, spanning across 11000 sq. ft., features an exclusive zone on each of the four floors, including an Exclusive Wedding Zone and Exclusive High Value Diamond Zone.
The expanded store was formally inaugurated earlier this month by CK Venkataraman, Managing Director, Titan Company Ltd., of which Tanishq is a crowning jewel.
10,000+ designs
The store has on display an extensive selection of 10,000+ designs, including gold, antique jewellery, diamonds, ‘kundan’, ‘polki’, and contemporary styles.
A showcase for the season is Tanishq’s exclusive festive collection in gold called ‘Dharohar’, which according to brand officials draws inspiration from the heirloom artefacts of eras gone by.
Along with modern, contemporary and lightweight jewellery collection ‘String It’, the store also features a versatile range of contemporary daily wear jewellery ‘GlamDays’.
Among other collections, there is ‘Rivaah X Tarun Tahiliani’ collection, designed with intricate ‘karigari’ techniques such as Rawa, Filgree, Chandak and enamel work along with coloured stones ‘piroi’ for modern brides; and ‘Enchanted Trails’ collection, drawing inspiration from the intricate beauty of exotic nature.
Additionally, the store houses ‘The Spotlight Edit’ collection, offering 33 designs of natural diamond necklaces along with ‘Aveer’, an exclusive jewellery line for men.
And, not to forget the popular jewellery pieces from ‘Rivaah’, a dedicated wedding jewellery sub-brand of Tanishq. Rivaah caters to the fashion preferences of women from various regions across India and is claimed to have evolved as a one-stop destination for wedding shopping.
According to Ashish Tewari, Regional Business Manager (North), Tanishq as a brand keeps itself fresh and vibrant by constantly looking to bring something new to the market and launching new collections and new designs.
Though jewellery largely continues to be a look and feel business, online purchases are also picking up with the brand making available around 95% of its entire product line there.
With the government’s recently resorting to a cut in import duty on gold, making it cheaper, and with the festive season on its way, gold jewellery sales are expected to get a major leg-up in the coming months, he added.
