After A Glistening Success In Jewellery Market, Tanishq Enters The Top 100 Franchise Brands List
Coined by Mr Xerxes Desai, the first managing director of Titan, by marrying the words 'Tan' meaning body and 'Nishk' meaning a gold ornament, Tanishq is a name synonymous with superior craftsmanship, exclusive designs and superlative product quality.
A journey that started with the launch of 18K gold watches studded with precious stones, Tanishq soon grew into a 22K gold jeweller and has now emerged as India’s fastest growing jewellery brand.
Tanishq retail chain currently has 275 exclusive boutique stores in 170 cities. Out of that 226 are franchise and 50 outlets company-owned. With retail sales of over Rs. 10,000 crores in the last financial year, Tanishq continues to rule the jewellery segment in India.
The Shining Story
The journey of Tanishq started with the launch of 18k gold watches studded with precious stones in 1994.
Tata's Titan watches were a huge hit, but they required more capital to import materials for watch-making. Thus, in an attempt to earn its own foreign exchange capital, they decided to make ornamental watches, which were a big hit abroad. However, after a crisis hit in abroad countries, Titan Company chose to focus the brand on the Indian jewellery market, challenging the family-jewellery business in India.
The first production plant launched in August 1992, and Tanishq's first store opened in 1996. Tanishq was the first jewellery retail brand in India.
But, the journey of Tanishq was not full of roses. The first years of Tanishq recorded consistent losses. Starting in 2000, its net worth started to grow, and by 2003, Tanishq was among the top 5 retailers in India and made up 40% of the Titan group's revenue.
The brand perfectly understands the ethos of the current Indian jewellery market and keeps evolving along with its changing demands and preferences.
A Robust Franchise Network
A blend of traditional values coupled with a modern outlook made Tanishq India’s first and largest jewellery retail store chain and allows them to maintain their position as the top Indian jewellery brand. Tanishq has brought to the market a whole new standard of business ethics and product reliability.
Titan Industries had developed a robust system of franchising for its watch business and after having success in expanding through franchising the brand replicated the same for their jewellery chain. A major part of the Tanishq is franchised. Tanishq franchise model is designed in a way that it suits the entrepreneur who is interested in a jewellery franchise business.
The jewellery brand plans to spread two-thirds of its expansion footprints across Tier-II and Tier-III geographies. Overall, the company aims to reach out to at least 130 new small towns while setting up 200 more outlets both franchised and company-owned in the next five years.
Tanishq is also listed among the Top 100 franchise brands by India’s no.1 Franchising Magazine - The Franchising World, making it one of the most desirable and profitable franchises currently. The increasing number of franchise recounts an inspiring story of secure business success in teaming up with the Tanishq Group.
Franchise 100
The Franchising World, India’s no.1 Franchising Magazine, identifies the TOP 100 Franchise Brands and celebrates their achievements every year in its anniversary issue. The issue highlights the established Indian and big global brands that are increasing their positioning in India along with the new-age brands that are lucrative and profitable, expanding fast, as a reference guide for budding entrepreneurs and investors across India.
Franchise Top 100 is the one-stop destination to know everything about the franchise industry which establishes the authority, and strength to evaluate the growth of the franchise industry.
