India's expected surge of rich consumers is driving the jewelry unit of Indian conglomerate Tata Group to triple its Zoya-branded stores by 2027
Expects 15-20 per cent higher sales in this festive season
With customers moving to organised jewellery shops, the company was making huge investment to open 45-50 new stores across the country to add to the existing 385 stores present in 220 cities
The other positives are lower gold prices, higher festive and wedding season sales, and market share gains
But those seeking greater safety should stick to SGBs or gold ETFs
In a Q&A, the CEO of Titan's Watches and Wearables Division says the firm is betting big on smartwatches, eyeing 10-15% revenue from the segment the next few years
Industry admits that price hikes are imminent but say they will make judicious decision for customers
Consolidated revenue drops marginally by 2.6% to Rs 4,318 crore
Tanishq's recent ad was mauled by angry trolls on social media for showing Hindu-Muslim couple
Hindu Jagran Manch activists staged demonstrations outside 3 Tanishq stores and demanded that they display apology for the next six months for their controversial ad featuring an inter-faith couple
Listen to the Podcast to know about the much talked about Tanishq ad controversy, which has attracted criticism as well as support from across the country
Here's a selection of Business Standard opinion pieces for the day
Tatas should have stayed firm on the Tanishq ad
A Tanishq showroom in Gandhidham town of Gujarat's Kutch district has put up a note on its door, apologising to Hindus in the district over the brand's controversial TV ad which was withdrawn
There are lessons in the controversy; brand should have held its ground: Analysts
Jewellery brand Tanishq on Tuesday withdrew its ad showing an interfaith family following a sharp backlash on social media with some accusing the company of promoting love jihad' and fake secularism'
The company is working on material innovations which will enable it to create the same designs with lower weights
The company will be launching a collection for the coming festive season followed by some new collections for the wedding season
So far, Titan has re-opened around 83 per cent of its stores across all businesses while the jewellery division has re-opened around 95 per cent of its Tanishq stores till date
Sales recovery in non-metros better than metros