Tata group promoted Tanishq is now looking at luxury retailing with its Diamond collection and luxury store concept. The demand for high end jewellery is growing and Tanishq’s new stores will be set in specialty mall to cater to this segment. The company is already using its current stores as testing grounds for this venture.
V.Govind Raj, VP Titan Retail said,
We are looking at high-end stores which will be bigger and more lavish. It will be a whole new experience for consumers looking at expensive jewellery.
Luxury jewelery market accounted for 27% of the organized jewellery retailing in India. While Tanishq’s high end stores will look at luxury retailing, Gold Plus chain will be focused to tap the lower-end of the market.