Tanishq plans exports to Europe & America

Watches and branded jewelery maker Titan Industries is tinkering with the idea of exporting Tanishq jewellery range to US and European markets.

Saumen Bhaumik, head of retail business for Tanishq range, told Business Standard that a study was already underway to ascertain the potential for business in US and European markets.

"We have begun the exercise of market estimation and expect a roadmap to be ready by 2006 end, after which exports will, hopefully, gather momentum," Bhaumik said.

Earlier, Titan did export the Tanishq range, but decided to focus more on the local market as the potential was much higher, Bhaumik said. The revival of the export opportunity has come in the wake of Tanishq's big success in India and a high demand for Indian jewellery abroad, he added.

Bhaumik said Titan Industries exports watches to over 40 countries around the world and has a ready sales network overseas, adding, the company would not use the Tanishq brand abroad. He said, the company is keen on creating another brand or retail jewellery under the Titan brand itself.

Bhaumik, who was in Pune to inaugurate the company's second branded showroom in Bund Garden Road, said the company has showrooms in 62 cities across the country and plans to open 16 more soon.

Titan's first branded showroom in Pune is in Shivaji Nagar. He said seven of the existing showrooms are company-owned and as many as three of the proposed 16 will be company owned. "We expect to make the showroom operational during the year 2006-07, he informed.

Tanishq's sales for the current year have been encouraging despite a significant rise in the gold prices, he said. Tanishq has mustered sales of Rs 562.42 crore for the first nine months, which is a 36 per cent rise over the sales in same period last year. The sales for 2004-05 were around Rs 535.01 crore.