Posted online: Tuesday
, January 22, 2008 at 1539 hrs IST
New
Delhi, January 22: 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.
He said the
products would primarily be manufactured by the
craftsmen from Jaipur.
Source
: The Financial Express
