Tanishq to invest 150-200 crore for large format stores
With plans of spurring the success of their jewellery business, Tanishq, the jewellery brand of Titan Industries Ltd (TIL), is planning to focus on larger format stores and premium collections.
September 23, 2009 | comments ( 0 ) |
With plans of spurring the success of their jewellery business, Tanishq, the jewellery brand of Titan Industries Ltd (TIL), is planning to focus on larger format stores and premium collections. Opening its largest store in Chennai, the company plans to open three to four exclusive large format stores in metros within this financial year. The proposed expansion would require an investment of about Rs 150-200 crore. Hoping to ride high on the festival season, Tanishq hopes to sell jewellery worth Rs 500 crore, with introducing the ‘Queen of Diamonds’ contest September 18 to October 20 offering to the winners diamond jewellery worth Rs 4 crore as prizes. The contest is open to those purchasing jewellery worth Rs 15,000 or more at Tanishq showrooms across India during the contest period. The jewellery division, notched up sales of about Rs 2,600 crore during the last fiscal.
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