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CONTENTS 1 Introduction 2 Market Research 3 Market Research For Business Planning & Growth 4 Tanishq An Introduction 5 Locating Tanishq 6 Product Line & The Collections 7 Tanishq For You 8 Tanishq Retailing 9 Marketing 10 Tanishq Marketing Strategy 11 The Jewellery Market 12 Some of Tanishqs Competitors 13 Tanishq Market Research 14 Tanishq The Turnaround Story 15 Promotion, Advertising & Public Relation 16 Tanishq In The News 17 Globalization

INTRODUCTION As we see it, research in advertising and marketing is very crucial in understanding, speculating on, and ultimately determining the position of the product in the consumer's mind. It is like a homework task that a good advertising/marketing/sales person would always carry out before (and after) implementing the said product's advertising/marketing strategy. By collecting data with the help of research methods, the researcher can manage to understand the consumer, what he wants, when he wants it, and how he wants it. Research methodologies, more or less, aim to reveal consumers different perceptions of the product, in large part about the way it is advertised. The researcher wants to know how effective the advertisement is on his listeners, where the strategy falls short, and where it can improve.

Ultimately, it can be said that the most important task of advertising/marketing research is to increase the sales of the product. This requires a well developed marketing plan, a good know-how of the prospective consumer, and most of all an effective and rational research methodology. MARKET RESEARCH Market research is the process of systematically gathering, recording and analyzing data and information about customers, competitors and the market. Its uses include to help create a business plan, launch a new product or service, fine tune existing products and services, and expand into new markets. Market research can be used to determine which portion of the population will purchase a product/service, based on variables like age, gender, location and income level. Market research is generally either primary or secondary.In secondary research, the company uses information compiled from other sources that appears applicable to a new or existing product. The advantages of secondary research are that it is relatively cheap and easily accessible. Disadvantages of secondary research are that it is often not specific to your area of research and the data used can be biased and is difficult to validate. Primary market research involves testing such as focus groups, surveys, field tests, interviews or observation, conducted or tailored specifically to that product. A list of questions that can be answered through market research: What is happening in the market? What are the trends? Who are the competitors? How do consumers talk about the products in the market? Which needs are important? Are the needs being met by current products? .

MARKET RESEARCH FOR BUSINESS PLANNING & GROWTH Market research is for discovering what people want, need, or believe. It can also involve discovering how they act. Once that research is complete it can be used to determine how to market your specific product. For the growth and plannning of a business there are a few things that are important: Market information Market information is making known the prices of the different commodities in the market, the supply and the demand. Information about the markets can be obtained in several different varieties and formats. Examples of market information questions are: Who are the customers? Where are they located and how can they be contacted? What quantity and quality do they want? When is the best time to sell?

Market segmentation Market segmentation is the division of the market or population into subgroups with similar motivations. Widely used bases for segmenting include geographic differences, personality differences, demographic differences, use of product differences, and psychographic differences. Market trends The upward or downward movements of a market, during a period of time. The market size is more difficult to estimate if you are starting with something completely new. In this case, you will have to derive the figures from the number of potential customers or customer segments. But besides information about the target market you also need information about your competitor, your customers, products etc. A few techniques are: Customer analysis Choice Modelling Competitor analysis

 Risk analysis Product research Advertising research

TANISHQ AN INTRODUCTION Tanishq is India's largest, most desirable and fastest growing jewelry brand in India. Started in 1995, Tanishq is the jewelry business group of Titan Industries Ltd - promoted by the TATA group, India's most respected and widely diversified business conglomerate.

This year marks a decade of successful innings for Tanishq. With retail sales of 1200 crore last year and gunning for 2000 crores this year, Tanishq has arrived in the Indian jewelry market. It is a story of a successful Indian enterprise, which has delivered value to its customers and shareholders in a complex category, marked by its completely localized front end as well as back end.

Tanishq has set up production and sourcing bases with through research of the jewelry crafts of India. jewelry at Tanishq is crafted in one of the world's most modern factories. The factory complies with all labour and environmental standards. Located at Hosur, Tamil Nadu, the 1,35,000 sq. ft. factory is equipped with the latest and most modern machinery and equipment. Every product at Tanishq is painstakingly crafted to perfection. Diligent care and quality processes ensure that the Tanishq finish is unmatched by any other jeweller in the country.

Tanishq challenged the age-old jeweller's word with TATA's guaranteed purity. It exploded the market with facts about rampant impurity across India. It introduced technology-backed challenge in a category completely governed by individual trust. Tanishq introduced innovations like Karatmeter, the only non destructive means to check the purity of gold.

Tanishq also introduced professional retailing in the dis-organised Indian jewelry bazaar, where women can shop with comfort and peace, without worrying about the purity of the jewelry they are buying, as well as, select from the best jewelry collections available in the Indian market.

Tanishq today is India's most aspirational fine jewelry brand with 91 stores in 64 cities, with an exquisite range of gold jewelry studded with diamonds or coloured gems and a wide range of equally spectacular jewelry in 22Kt pure gold. Exquisite platinum jewelry is also part of the product range. Jewellery is one of the last great commodity frontiers in India; it has remained so because this market is very fragmented, very unorganized. Tanishq has successfully taken on the challenge of transforming this frontier into a reliable consumer space by bringing to it all the virtues and benefits that branding offers". - Harish Bhat, CEO, Tanishq.

PRODUCT LINE & THE COLLECTIONS

PRODUCT LINE:

Tanishq Diamonds The sparkle of diamonds has always attracted the human eye. Finding your perfect piece of diamond jewelry is an exhilarating and unique experience. As with any significant purchase, it is important that you make an educated decision. Cut and crafted with utmost care, Tanishq diamonds come with a certificate of authenticity, stating the caratage, colour and clarity of the stone, to enable you to know exactly what you are paying for. No gemstone expresses human emotions more powerfully than a diamond and Tanishq transforms these precious stones into breathtaking masterpieces, each unique and splendid in design. When it comes to diamonds at Tanishq you will be spoilt for choice from many collections we have to offer.

Tanishq Gold From the traditional harams, mangalsutras and thalis to the more fashionable earrings, chains, bracelets and rings, there is a lot to choose from at Tanishq. In India Gold has always been associated with security and is the most valuable form of investment.

However, it has been observed that consumer is an easy target to several malpractices like under karatage, under valuation of the gold sold and unfair buy back policies due to the lack of awareness about these issues.

Tanishq propagates ethical practices not only by assuring the customer purity and selling policies, but also fair policies to the karigars who craft the jewelry.

Tanishq's designs in Pure 22k gold are not only unique, expressing the wearer's individuality but each piece is subject to the intricate process of design, crafting and stone setting with stringent quality standards at every point. At Tanishq, we cater to every occasion. Our collections in gold abound from the grandiose wedding collection to exotic kundan and polki, from the stunning Aarka collections to the exclusive Nakashi work. We ensure that we have something for everyone with our baby range, 9 to 5 for the working woman and high fashion, men's wear, teen's collection and regional specific designs.

Tanishq Platinum Metal at its best.

Pure Platinum's purity endows it with a brilliant white luster. This helps to reflect the true radiance of diamonds. Because it is generally 95% pure (18 karat gold is 75% pure), platinum jewelry does not fade or tarnish and keeps its looks for a lifetime.

Rare Platinum is rare, the coveted treasure of discerning individuals. There is very little platinum on this earth and it is found in very few places around the world. This exquisite metal is 30 times rarer than gold. Platinum's rarity makes it exclusive and distinctive - a celebration of your individuality.

Eternal Platinum jewelry is the perfect choice for a lifetime of everyday wear. Platinum does not wear away and holds precious stones firmly and securely. All precious metals can scratch, and platinum is no exception. However, the scratch on a platinum piece is merely a displacement of the metal and none of its volume is

lost. Some of the world's most famous gems are set in platinum, such as the Kohinoor diamond, part of the British crown jewels.

Platinum and White Gold are distinctly different materials and must not be confused. Platinum is a metallic element while White Gold is a Gold alloy, which gets its white colour due to palladium or nickel. Tanishq's Platinum represents excellent value for money. The price may be higher than a similar item in gold but platinum is pure, rare, enduring, beautiful, luxurious, classic, and the perfect host for diamonds; precious qualities that make it worth paying that little bit extra for.

THE COLLECTIONS:

The Diamond Collection No gemstone expresses human emotions more powerfully than a diamond After all, a diamond is timeless and finding your perfect piece of diamond jewelry is an exhilarating and unique experience. Cut and crafted with utmost care the diamond collection renders each piece eternal.

The Wedding Collection The bride blushes; Everyone around smiles; The shenai announces festivity; The priests chant auspicious promises; She walks demurely; A vision of beauty; Her jewels are exquisite; Crafted by the best in the land; As pure as the blessings bestowed on her.

The Zoya Collection Intricacy coupled with the simplicity; The magnificence of history interwoven with linear contemporary; Secrets of the pharaohs masked with the mystery of the cosmos; oriental art embellished with occidental architecture; nature's bounty matched with man's ingenuity.

The Fashion Earring Collection The Fashion earring collection', has a range of over 300 exclusive designs. Keeping in tune with the raging popularity that earrings currently enjoy, the Tanishq design team has created the

Fashion earring collection, inspired by the evergreen Jhumkas or Karnaphools and the trendy Chandelier and delicate Stiletto designs

The Kundan and Polki Collection Influenced by the mughal era Kundan work requires special craftsmanship and a myriad of stages, each crafted by a different set of highly skilled karigars. Tanishq as a revitaliser of tradition brings to life techniques and motifs of the period through our exquisite collections of Kundan and Polki (uncut diamonds). It is difficult for jewelers to ensure the purity and correct grammage of the product since it involves so many stages. However, Tanishq ensures the karatage and net wt of the product.

The Colours of Royalty Collection Colors of Royalty a range of exquisite studded jewelry, reminiscent of the magical Victorian era. The collection is inspired by the classic design essence and sensibilities found in the architecture, fashion, design, drapes and patterns of the Victorian period. Tanishq has incorporated the timelessness of these styles into exquisite jewelry designs to present a collection where fashion and tradition converge. This line of precious stones and diamond jewelry in 18k from Tanishq comprises more than 200 pieces and is by far the largest studded collection launched by us.

This exclusive collection was launched at the Ponds Femina Miss India 2006, where the 25 finalists wore it. The Colors of Royalty is a line of exclusive gems and stone studded jewelry that reflects the grandeur of India's rich past represented through the varied meanings associated with colors in our lives

The Moham Collection The collection comprises designs, motifs inspired by nature that have been beautifully crafted to make them the most desirable possession this season Moham is a range of exclusive ruby studded jewelry that embodies the auspiciousness the color red has in our lives. Rubies have been associated with prosperity, passion and have been the most coveted gemstone for many years.It is a must have for a Indian women.This range attempts to strike a balance between convention and fashion by creating designs suitable for the progressive Indian woman, rooted in

her tradition. This line of Ruby studded jewelry from Tanishq is available in both 18k and 22k. This launch reiterates Tanishq's focus on catering to region specific tastes and preferences. India offers great potential for the

Moham collection where Ruby studded jewelry enjoys great popularity and acceptance. Consumer survey indicates that women attach great inspirational value to rubies, second only to diamonds.

The Aria Collection Aria is a collection of variety of everyday jewellery which depict various moods and feelings: Mysteries of love Mysteries of passion Mysteries of envy Bewitching Fascinating Enchanting Hypnotizing Sensuous Captivating

Tanishq has built itself a reputation of bringing innovative designs that suit the needs of "the everchanging never-changing" Indian woman. The crowns have been designed to convey the essence of India through the use of distinctive motifs such as the traditional and auspicious 'teeka' - the Indian touch to the contemporary styling. Crafted with painstaking detail, each of these crowns convey a story; a story of their "ORIGIN". Inspired by interplanetary movements and colors of flora and fauna, these tiaras are a stunning combination of trillions, baguettes, round brilliant cuts, princess, pears and specially cut colored crystals. Each crown weighs about 450 gms and has a special spring mechanism designed to fit perfectly on any size or shape of head.

The inspiration behind each crown is distinct and personifies the spirit of the title.

Miss Universe: This crown has the perfect cosmic blend of elements, very like the universe itself. The large red stone, set slightly on the side, is the symbolic and stylised 'teeka'.

Miss Universe: This crown has the perfect cosmic blend of elements, very like the universe itself. The large red stone, set slightly on the side, is the symbolic and stylised 'teeka'.

Miss World: The natural essence of this piece is enhanced by the wave-like undulating shape on the base of the crown, sitting snugly on the forehead of the wearer. And of course the vivid rectangular blue stone that expresses the teeka of victory, and sets off the varying hues of the sea on the rest of the crown.

Miss Earth: This crown derives its inspiration from the essence of nature- her flora and fauna. Based on the fabulous colours and movement of the peacock and its feathers, this stunning piece is an intriguing study in harmony and contrast. The jewelry crafted beautifully with interspersion of diamonds and colored stones, is an ode to the ecstatic beauty and supreme power behind every woman. The contemporary styling has been brought to life with sensuous curves, balance, rhythm and symmetry of classic Indian motifs in an unconventional synthesis.

These beautiful and vibrant gemstones in different shapes, sizes and colors are sprinkled amongst diamonds to create a symphony that enhances the look of the stones and adds a dash of color to conventional designs.

Tanishq has translated the timelessness of these designs to a modern context and brought to life a collection where fashion, design and tradition blend perfectly.

TANISHQ FOR YOU At Tanishq its not just the products, its the experience that matters. We make sure that we give you the premium quality of not only product but service as well. Tanishq not only has an exquisite range of designs to meet all your requirements we also offer the benefit of any modification or customization on products.

There are host of value added services that you can avail of at Tanishq like the Golden Harvest Savings Scheme, Gift Voucher purchase, Exchange of gold and diamonds etc.

Golden Harvest Saving Scheme Tanishqs Golden harvest Savings Scheme is one of the most lucrative savings schemes, that enables to save each month with Tanishq and plan for wedding jewelry purchases. Your monthly installments are safe with us, whereas savings at home could easily get spent. This scheme provides you with much better returns than other saving options like bank deposits or post office savings schemes. In addition, Tanishqs special bonus at the end of the scheme period helps you stretch your jewelry budget.

How much money must one invest to enroll in the Savings Scheme? You need to invest only Rs.500/- per month to enroll. You could also deposit a larger sum, as long as they are in multiples of Rs.500/- You can choose from two convenient savings scheme options- an Annual Plan (12 month installments) and an Extended Plan (18 month installments).

BONUS: 60% of monthly installment in Annual Plan 130% of monthly installment in Extended Plan At the end of the scheme period, pick up Tanishq jewelry of your choice worth the amount deposited plus the BONUS Installment Amount (Rs) Bonus for 12 months scheme Bonus for 18 months scheme 500 300 650 1000 600 1300 1500 900 1950 2000 1200 2600 2500 1500 3250 3000 1800 3900 4000 2400 5200

5000 3000 6500

Exchange Policy in Tanishq Exchange your old jewelry for new with Tanishq Most retailers have a differential buy back or different rates for selling and buying gold jewelry. At Tanishq, a single gold rate is maintained for buying or selling gold jewelry. 8% of the value is deducted for costs involved with testing, refining and taxes for the jewelry given by the customer.

When you exchange any Tanishq gold coin with jewelry, you get the benefit of the current gold rate and full value exchange without deduction. When you exchange any other banks gold coin with jewelry there is a 4% deduction on value. This deduction is made for handling and transportation costs and for refining the metal received on exchange

How are Diamonds exchanged in the market? How are diamonds exchanged at Tanishq? Most jewelers exchange jewelry returned to them at the purchase price hence any appreciation in the value of gold and diamonds are not accounted for.

At Tanishq, when you exchange diamond jewelry purchased from us it is exchanged for its current value, thus giving you the benefit of any appreciation that would have taken place in the price of gold or diamonds

Gift Vouchers Gift Vouchers make the perfect gift for friends and family. These are available at all Tanishq showrooms across India and are also redeemable across the country, Gift vouchers are available in the following denomination Rs. 2501/-, Rs. 5001/- , Rs. 10001/- and Rs. 25001/- So now you no longer need to worry about gifting your loved one, something of her choice!

Purity Checks Purity checks allow lovers of the yellow metal to test the purity of the gold they already own. Playing a significant role in this is the Karat meter, which is the most scientific measure of purity in the world. It uses X-rays to give an exact reading of the purity of gold in just three minutes, giving the consumer an unmatched benefit when buying or selling gold. It is in fact the most scientifically proven, non-destructive means of testing the purity of gold. Due to its excellent precision, X-ray analysis has been adopted by international agencies as well as by BIS in India as part of the certification process used to Hallmark Gold.

Anuttara You can also become the member of Tanishqs loyalty programme Anuttara and avail of various discounts and priveleges.

MARKETING Marketing Equals the Four Ps Part of marketing is identifying the mix of "Ps" that makes your service unique. This is also called your marketing mix. The next step is to shape your marketing mix and position its components to create a unique identity for your business that attracts and retains customers. Your market position is one or more selected benefits or features that make your operation unique and different.

The following steps will help you define your marketing mix: Identify your target market. Determine what the target consumer desires. Assess whether you have any advantages over your competition in delivering the desired service. Choose the position that is most valued by the consumer.

PRODUCT PLACE (DISTRIBUTION) PROMOTION PRICE (COST) Features Location Publicity List Price Optional Services Frequency of Service Sales Promotion Discounts Product Quality Transportation Personal Selling Credit Terms Staff Quality Distributors Advertising Inclusive/Not Style Inventory Mailing List Remoteness Brand Name Packaging Guarantees Tanishq has excelled in 4 Ps of marketing and hence it is the top brand in India.

TANISHQ MARKETING STRATEGY When Titan launched Tanishq in 1995, the jewellery industry in India valued at Rs 40,000 crore, was mostly unorganized, with around 3.5 lakh players. India was the second largest consumer of gold in the

world after USA. Before 1992, only the Metal and Mineral Trading Corporation and the State Bank of India were allowed to import gold. In 1992, as part of economic liberalization, the government abolished the

Gold Control Act of 1962, allowing free import of gold. In 1993, private companies were allowed to enter the hitherto restricted gold and diamond mining industry. Foreign investors were allowed to hold up to 50% equity in mining ventures.

In the 1990s, a number of brands entered the Indian jewellery market. In 1995, Mumbai based jewellery exporter, Gitanjali Jewels, started selling 18-carat gold jewellery under the brand name of Gili. Su-Raj (India) Ltd. launched its 22-carat gold and diamond jewellery in 1997. Other well known domestic players included Tribhovandas Bhimji Zaveri, Mehrason's and P. C. Chandra. Among the foreign players who entered the market were Cartiers, Tiffany, De Beers and Ashton Mining.

Titan realized that there was a huge untapped market for branded jewellery in India. The critical success factors in the business were quality, fashionable design, and good after-sales service. Titan also observed that the changing lifestyles demanded lighter and trendier jewellery.

After its launch, Tanishq faced several problems. With its original focus on exports, Tanishq's designs had been conceptualized for the Western markets and were introduced in India without any alterations. Formal consumer surveys showed that though brand awareness was quite high, it suffered from several negative perceptions. Many potential customers thought the products were over priced and associated the brand only with the rich.

Hence, Titan decided to change its strategy on two fronts: W Value proposition W Retailing. Since the European designs in 18-carat gold did not find any takers in 1997, Tanishq introduced 22-carat ornaments. Customer surveys revealed that gold jewellery was not bought so much for design as for value. Titan also decided to do away with the shop-in-shop formats and started

retailing its jewellery through exclusive Tanishq outlets from 1998. Titan realized that, given the diverse nature of Indian ethnicity, it would have to satisfy the tastes of all regions. So, the designs became more ethnic.

Titan also decided to transpose designs by stocking Bengali designs in Delhi, Keralite designs in Tamil Nadu and typical designs from Tamil Nadu in Bombay in order to appeal to a variety of people. The same year, Tanishq entered the studded jewellery segment, which it had ignored for long. Titan also tapped institutional customers also. In 1998, it launched the corporate gold gift scheme - 'When you want to say thank you, say it in gold'. In 1999, Tanishq delivered gold coins worth Rs. 20 crores to Maruti Udyog Ltd., to be given away as gifts to Maruti car owners. In early 2000, it made miniature gold cars for Hyundai Motors to be given to select dealers. The Tanishq strategy for the coming couple of years relies on two things increasing penetration in the domestic markets and going abroad in order to diversify its revenue portfolio.

SOME OF TANISHQS COMPETITORS

Asmi Asmi, one of the leading diamond brands of the country, was launched, In 2002 by The Diamond Trading Company Ltd, (DTC). The Asmi diamond Jewellery Collection is crafted to beautifully compliment and complete her. Asmi caters to the women of substance & satisfies her mind for rewards recognition, evolving to suite her style & Personality.

The brand has been endorsed by various celebrities such as Kajol, Mandira Bedi & Perizad. All these women epitomize the different strengths. An Asmi woman is closely identifies with free-spirited, goal-oriented & with an inner fire.

Nakshatra Diamonds The world renowned Nakshatra diamonds were launched in 2000, with an equally dazzling Aishwarya Rai as its brand ambassador. In the present scenario Nakshatra diamonds occupy a leading position in the fashion diamond jewelry segment. The traditional diamond is the most

wanted design among Nakshatra diamonds. Nakshatra diamonds claim to shine your glamour and love life. They have aptly put their slogan as "brightest circles of light." Elegant and graceful Nakshatra diamonds are the epitome of passion, attitude and independence.

Gili Gili was launched in 1994, targeting mainly the youth who wanted to celebrate Valentine's day. Since then, the brand has clocked a turnover of Rs. 90 crores.

Nirvana Diamonds Nirvana Diamonds from Fine Jewellery (I) Ltd. was launched in 1987 in India. Nirvana diamonds are targeting at fashion conscious, modern and independent thinking women. Internationally acclaimed Nirvana diamonds are manufactured by using state-of-the-art technology. As a proof of their quality Nirvana was among one of the brands to offer lifetime warranty to its consumers.

D'damas Diamonds D'damas Diamonds are part of Gitanjali Digico Group and one of the earliest diamond houses established in India in 1966. On the present day D'damas Diamonds offer highly modernized diamond cutting and polishing facilities at five locations in India. D'damas Diamonds claim to promote a range of emotions through their collections

Adora Diamonds Adora Diamonds were launched in India in July 2003 by Mumbai based Concept Jewelry (India) Ltd. On the present day the still expanding retail network centers of Adora expands to 117 outlets in 47 cities of India. Adora means glory in Spanish and claims that its diamond collection is themed on love. Adora diamonds are for adornment of every moment, occasion, and phase of life through its up and downs. The Swaranjali signature collection of living legend Lata Mangeshkar is a unique feature of Adora diamonds. Each piece of Swaranjali collection is conceptualized and approved by Lata Mangeshkar and bears her laser printed signature.

Kiah Diamonds World's largest volume manufacturer of diamonds-Sheetal manufacturing Company (SMC) launched its exquisite Kiah diamond collection in October, 2004. Kiah diamonds are claims to be for celebrating womanhood. The brand name 'Kiah' means beautiful place. On the latest Kiah diamonds have won the Best Showroom in the DTC Diamond Season for 2005-2006.

PROMOTION, ADVERTISING & PUBLIC RELATION

Promotion Tanishq launches Free gold coin offer campaign July 19, 2008 (India) Tanishq launched its "Get Gold free with Diamonds" promotional offer were customer be entitled to win at least one 22-kt one-gram gold coin on every purchase of diamond jewellery worth Rs 5,000 and above.

"Get Gold free with Diamonds' caters to the aspirations of Indian woman by providing an opportunity to own diamond jewellery and win gold, which is a huge investment opportunity. Akshaya Tritiya is one of the four most auspicious days of the Vedic calendar. The Akshaya Tritiya prebooking scheme along with the 10 per cent deduction on making charge offer is available across all Tanishq boutiques

Advertising Ms Karishma Kapoor the bollywood actress is the brand ambassador of the Product Tanishq. T V Advertisement: Tanishq focus on the emotional attachment in the advertisement like engagement, marriage and such other occasions. Print advertisement: In Leading news paper and famine magazines are targeted to do the advertisement. In short they know their target market and hence do advertising as required. Bollywood tie-up: Has done tie up with Paheli where in the movie Ms Rani Mukherji Was seen wearing Tanishq jewellery through out and in Jodha Akbar Movie were they launched a product line named Jodha Akbar.

TANISHQ IN THE NEWS Priya Ganapati in Bangalore | July 04, 2003 Jacob Kurian, chief operating officer (jewellery), Tanishq isn't tired of saying that the story of his company mirrors a Bollywood movie. There's drama, celebration, then betrayal in the family, followed by action and, of course, a happy ending. Tanishq, the jewellery business group of Titan Industries, is the blockbuster action thriller from the Tata group.

After five years of consistent losses, the company, on Thursday, announced the completion of a dramatic three-year turnaround culminating in annual sales growth of 39 per cent and profit growth of 318 per cent.

During 2002-03, Tanishq recorded a sales turnover of Rs 389 crore (Rs 3.89 billion) -- at consumer prices. By 2007, it hopes to take that to Rs 800 crore (Rs 8 billion).

Today, Tanishq has already become one of the top five retailers in the country. It contributes 40 per cent to Titan's business and is expected to account for 55 per cent by 2007. By then, Tanishq's profitability will also be good enough to offer 28 per cent return on deployment of 25 per cent of the capital.

Sales Year Sales (Rs crore) 1996-97 32 1997-98 38 1998-99 73 1999-2000 141 2000-01 188 2001-02 299 2002-03 389 It's a long way for a company that almost folded up before it could turn in its first ever profit.

Since, its launch, Tanishq has not only been grappling the tough market conditions but also internal strife and Doubting Thomases. "Many people believe we should not be here today. They have kept telling us that the business logic is against what we set out to do. But I am glad we have proved them wrong," says Kurian proudly.

The estimated Rs 40,000 crore (Rs 400 billion) gold jewellery market in India is a rough one. There are over 300,000 jewellers, each powerful in his neighborhood. Till the last two years, national players were almost non-existent.

One of the largest consumers of gold, the Indian household had a marked preference for 22-karat gold, as opposed to the 18-karat designs that jewellery chains worldwide chose to do their designs in. Not surprisingly, the skeptics were asking what was Titan doing in the jewellery business?

Today, Tanishq counts companies like Hindustan Lever Limited, Pfizer, National Panasonic, UB Group, Tata Tea and Tata Chemicals among its clients. "We saw corporate sales as a new route to customer acquisition. Institutional sales help us beat targets," says Kurian.

Since the last three years, Kurian and his team have brought in quite a few changes to the way Tanishq operates. A steady stream of jewellery collections each with its distinct target audience has been launched. Aria, for seven stone diamond jewellery, Hoopla, focused on diamond studded hoops and Collection-G for lower priced gold jewellery with an interesting twist are just a few lines that have come out of the Tanishq stable in the last three years. Manufacturing has been made more flexible. New Japanese manufacturing machines have been introduced at the Hosur, Tamil Nadu plant of the company.

The emphasis is now on customisation according to customer demands. The challenges remain. Profit figures have yet to rise significantly. In 2002-03, on revenues of Rs 389 crore (Rs 3.89 billion), Tanishq made a profit of only Rs 7.82 crore (Rs 78.2 million).

A slew of national brands have sprung up. From Nakshatra to TBZ to Carbon, Tanishq has to battle a lot more at the market place. Yet, Kurian says now it's a great time to be in business. "We believe jewellery business is one of the few 'China-proof, WalMart-proof' kind of businesses," he grins

Tanishq News Headlines Tanishq launches Free gold coin offer campaign July 19, 2008 (India) Tanishq to spread its radiance with new stores May 15, 2008 (India) Celebrate Akshaya Trithiya with Tanishq jewellery May 02, 2008 (India) Tanishq Jodhaa Akbar collection - prt January 28, 2008 (India) Royal Mughal appearance in Tanishq jewelry January 28, 2008 (India) Tanishq opens 3rd exclusive showroom in Chandigarh November 20, 2007 (India) 100th store in Patna & still countingTanishq October 26, 2007 (India) Tanishq is a perfect gift for your sister! August 18, 2007 (India) Tanishq targets US jewelry market April 09, 2007 (India) Tanishq unveils coveted Miss India 2007 crown March 23, 2007 (India) Tanishq launches elegant fashion earring collection November 16, 2006 (India) US to shine with Indian jewellary November 03, 2006 (India) Celebrate DHANTERAS with exquisite jewellery from Tanishq

October 10, 2006 (India) Tanishq Jewellery adds glamour to women's ensemble October 04, 2006 (India) Tanishq expects 15-20% sales gain this year August 03, 2006 (India) Tanishq to strengthen its presence July 31, 2006 (India) Tanishq launches Colors of Royalty range jewelry April 17, 2006 (India)

GLOBALIZATION Titan opened its first Tanishq jewelry brand outlets in Chicago and New Jersey by January 2008. Company aims to expand this into a 10-store chain with initial investment of US $6-7 million. Tanishq has targeted the worlds biggest jewelry market, through either franchisee or self-owned outlets.

Currently, US jewelry market is valued at around $16 billion. The Indian jewellery manufacturer plans to launch its pilot retail jewellery store in Chicago, US, in July. The store is proposed as a 2000 sq.ft. Facility, where the jeweller would retail 18 karat gold and diamond studded jewellery.

The designs at the store have been inspired and themed basis the lifestyle of modern American women, with concepts like Rain, Yoga, while native American influences like a local tree in New York have also inspired the jewellery collections. Price points for the jewellery have been determined between $400- $12,000.

Tanishq would inch its way to open a second store in the next three to four months, in New Jersey.