Tanishq to expand retail outlets, aims Rs 3,000 cr sales

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Tanishq, jewellery division of Tata group company Titan Industries Ltd, is embarking on a retail expansion with an aim to increase sales by fifty per cent to touch a turnover of Rs 3,000 crore in the 2008-09 fiscal.

"In first nine months of the ongoing fiscal we have already crossed the Rs 1,292 crore mark, in the coming fiscal we are targeting about Rs 3,000 crore," Tanishq Vice President (Retail and Marketing) V Govindraj told reporters.

The company is expecting a revenue of about Rs 2,000 crore for 2007-08, he said. In 2006-07, it had revenues of Rs 1,292 crore.

In order to meet the sales target, the company was expanding retail presence of the jewellery brand.

"We will increase our exclusive stores to 110 from the current 103 by the end of this fiscal. We will also expand to three more cities," he said, adding that seven exclusive showrooms would be added by March.

Currently, Tanishq is present in 72 cities across the country with its exclusive showrooms.

The company plans to invest five per cent of its total revenue in publicity and advertising, he said.

Tanishq today showcased the "Jodhaa Akbar" jewellery collection, ahead of the release of the Hrithik Roshan and Aishwarya Rai-starrer period movie. The company was the official jewellery supplier for the film.

"The film is slated for release on February 15 and after that, the set of jewelleries will hit the market, which will be priced between Rs 25,000-Rs 12 lakh," Govindraj said.