Tanishq plans to pump in Rs 1,000 cr for expansion

Kolkata: Tanishq, the jewellery wing of Titan Industries Ltd, plans to invest more than Rs 1,000 crore to expand its network across the country this fiscal.

Brand Tanishq, the $1-billion turnover from the Tatas, will add 29 outlets during this period to its existing 146 stores.

“We have a plan to invest to upward of Rs 1,000 crore to expand our network nationally,” V Ganesh, Associate Vice-President, Titan Industries Ltd, told reporters here on Saturday.

At a launch function of the limited edition Rabindranath Tagore’s image engraved gold coins to mark the 152 {+n} {+d} birth anniversary of the legendary poet. These gold coins will be available in three variants – 2 gm, 5 gm and 8 gm. The coin will come with albums of Tagore’s songs and rare photos.

Tanishq claims to control about 80 per cent of the organised jewellery market.

Ganesh said that Tanishq earmarked 20 per cent of the total investment in the region. “We will invest about Rs 200 crore in east, including the north-eastern market,” he said.

Tanishq is in the process of adding 10 more outlets in the eastern region this fiscal.