Tanishq’s sales stagnate

Tata’s jewelry retail brand Tanishq’s sales showed no growth during August 2011.

During the preceding month Tanishq registered a 20 per cent increase in gold sales. The reason: instability in gold prices, which discouraged customers from investing in jewelry. However, Tanishq hopes the festive season would prop up demand for gold. The jewelry retail chain had witnessed an increase of 36 per cent in sales from April to July as against the corresponding period last fiscal. Tanishq is eyeing a growth of 10 to 15 per cent in the gold jewelry business in the current fiscal and has decided to launch 20 stores that will take strength of its outlets to 150 by 2011-12. The business as a whole also witnessed gold jewelry sales volume going pessimistic by around 15 per cent during August in India. With poor sales ratio in August, the industry estimates say sales volume of industry as a whole slipped by 10-15 per cent in the month.

India’s fastest growing jewelry brand offers traditional as well as trendy designs in gold, diamond and platinum. Located at Hosur and Dehradun, the 1,35,000 sq. ft. manufacturing unit is equipped with the latest and most up-to-date technology and tools. Tanishq has innovations like the karatmeter -- the only non-destructive means to check the purity of gold. The overall market volume of the yellow metal stood at Rs 1,25,000 crores in India out of which, branded section makes up 15 per cent.