NEW DELHI: Tata Group company Titan plans to open 18 new world shops of its jewelery emblem Tanishqbasically within the Gulf areataking the full rely to twenty-five via the tip of this fiscal.
Despite the operational complexities of opening shops in unfamiliar territories, the corporate plans to “aggressively expand” in FY24 around the GCC (Gulf Cooperation Council) area and the USA marketplace, given the obvious shopper call for for Tanishq emblem jewelry, mentioned the most recent annual document from Titan Company Ltd.
“The company aspires to further strengthen its international presence to 25 international stores by the end of FY 2023-24, with growth primarily being driven by additions in the GCC region,” mentioned Titan.
Tanishq, which greater the selection of world Tanishq shops from 2 to 7 in FY23, has won a ‘sure reaction’ in world markets and now plans to extend its presence additional, it added.
“Tanishq aims to become the preferred jeweler in the NRI/ PIO markets by leveraging the pride that Indians across the world take in their cultural heritage,” it mentioned.
In addition, its world web sites – tanishq.ae and tanishq.com, which went reside in FY23, are appearing smartly.
Besides jewelry, the Tata The workforce company additionally opened its first world retailer of Titan Eye+ in Dubai remaining 12 months and has plans so as to add extra. It had a good reaction from each Indian and world shoppers for its eye put on industry.
“The division will add more stores in the coming year establishing the Titan Eye+ first in the GCC region and then across the world,” it mentioned.
According to Titan, as India emerges as an integral a part of the worldwide financial panorama, it sees a possibility to reinforce its presence via its sublime merchandise that signify the richness of Indian tradition.
Titan’s jewelery department had a income of Rs 31,897 crore for the monetary 12 months which ended on March 31, 2023, contributing round 88 in line with cent of the turnover of the corporate.
Its jewelery department is headed via manufacturers akin to Tanishq, CaratLane, Zoya and Mia via Tanishq. The corporate has been broadening its product choices via upgrading and increasing its current shops into higher structure shops right through India.
“The jewelery division continues rapidly expanding its network presence and successfully added 100 new stores to its network. Furthermore, our goals for FY 2023-24 include expanding space in 15 existing stores and opening over 40 new stores,” it mentioned.
Besides, Tanishq is specializing in some states akin to Tamil Nadu, which as some of the biggest jewelery markets in India, is an “important strategic market” for the corporate.
“We have intensified our efforts in recent years to strengthen and expand the Tanishq brand in this region,” it mentioned.
Additionally, Titan could also be emphasizing gold trade methods and diversifying its products choices to additional pressure enlargement in Tamil Nadu.
“We will continue to leverage these strategies to accelerate our momentum in this critical market,” it mentioned.
Titan could also be strengthening its distribution community in its ‘Watches & Wearables’ section during the enhancement of its phygital (omnichannel) presence.
Its ‘Watches & Wearables’ section contributed 9 in line with cent and a pair of in line with cent got here from EyeCare. Its different companies as ‘Design and Retailing of Indian Dresswear, Fragrances and Fashion Accessories’ contributed 1 in line with cent handiest.
In FY23, Titan which used to be introduced in 1983 as a three way partnership between Tata Group and the Tamil Nadu Industrial Development Corporation (TIDCO), had a consolidated income from operations at Rs 40,575 crore.
Despite the operational complexities of opening shops in unfamiliar territories, the corporate plans to “aggressively expand” in FY24 around the GCC (Gulf Cooperation Council) area and the USA marketplace, given the obvious shopper call for for Tanishq emblem jewelry, mentioned the most recent annual document from Titan Company Ltd.
“The company aspires to further strengthen its international presence to 25 international stores by the end of FY 2023-24, with growth primarily being driven by additions in the GCC region,” mentioned Titan.
Tanishq, which greater the selection of world Tanishq shops from 2 to 7 in FY23, has won a ‘sure reaction’ in world markets and now plans to extend its presence additional, it added.
“Tanishq aims to become the preferred jeweler in the NRI/ PIO markets by leveraging the pride that Indians across the world take in their cultural heritage,” it mentioned.
In addition, its world web sites – tanishq.ae and tanishq.com, which went reside in FY23, are appearing smartly.
Besides jewelry, the Tata The workforce company additionally opened its first world retailer of Titan Eye+ in Dubai remaining 12 months and has plans so as to add extra. It had a good reaction from each Indian and world shoppers for its eye put on industry.
“The division will add more stores in the coming year establishing the Titan Eye+ first in the GCC region and then across the world,” it mentioned.
According to Titan, as India emerges as an integral a part of the worldwide financial panorama, it sees a possibility to reinforce its presence via its sublime merchandise that signify the richness of Indian tradition.
Titan’s jewelery department had a income of Rs 31,897 crore for the monetary 12 months which ended on March 31, 2023, contributing round 88 in line with cent of the turnover of the corporate.
Its jewelery department is headed via manufacturers akin to Tanishq, CaratLane, Zoya and Mia via Tanishq. The corporate has been broadening its product choices via upgrading and increasing its current shops into higher structure shops right through India.
“The jewelery division continues rapidly expanding its network presence and successfully added 100 new stores to its network. Furthermore, our goals for FY 2023-24 include expanding space in 15 existing stores and opening over 40 new stores,” it mentioned.
Besides, Tanishq is specializing in some states akin to Tamil Nadu, which as some of the biggest jewelery markets in India, is an “important strategic market” for the corporate.
“We have intensified our efforts in recent years to strengthen and expand the Tanishq brand in this region,” it mentioned.
Additionally, Titan could also be emphasizing gold trade methods and diversifying its products choices to additional pressure enlargement in Tamil Nadu.
“We will continue to leverage these strategies to accelerate our momentum in this critical market,” it mentioned.
Titan could also be strengthening its distribution community in its ‘Watches & Wearables’ section during the enhancement of its phygital (omnichannel) presence.
Its ‘Watches & Wearables’ section contributed 9 in line with cent and a pair of in line with cent got here from EyeCare. Its different companies as ‘Design and Retailing of Indian Dresswear, Fragrances and Fashion Accessories’ contributed 1 in line with cent handiest.
In FY23, Titan which used to be introduced in 1983 as a three way partnership between Tata Group and the Tamil Nadu Industrial Development Corporation (TIDCO), had a consolidated income from operations at Rs 40,575 crore.