Tanishq to invest Rs 200 cr by March '12

Tanishq, the jewellery retail chain arm of Titan Industries Ltd, under Tata Group, is planning to invest around Rs 150-200 crore for setting up around 15 showrooms in various parts of the country in next fiscal year.

Talking in the sidelines of launch of sixth showroom in Chennai, at Chromepet, C K Venkatraman, COO, Jewellery Division, Titan Industries Ltd, said, “We are looking at opening 15 showrooms in the country within March 2012. The total investment would be around Rs 150-200 crore.”

With launch of the new showroom in Chennai, Tanishq retail chain presently has 123 exclusive boutiques in 76 cities.

The area of proposed showrooms would range from 3,000 sq ft to 20,000 sq ft, including four to five large showrooms spanning total area of over 8,000 sq ft each. The largest of the upcoming outlets would be a 20,000 sq ft showroom in Mumbai, he added.

The new showroom in Chennai, of 4,000 square foot, would provide a range of traditional Bengali jewellery, wedding jewellery in plain gold, diamonds, polki and kundan.

The new showroom would also provide facilities including Karatmeter, a device to measure the purity of gold, for its customers.