Tanishq plans shop-in-shop retail channel  ( July '16,2003, HBL)

TANISHQ, the seven year-old jewellery brand from Titan Industries, is set to explore the shop-in-shop retail channel. The brand, which sells 22-carat gold and gemset jewellery, will shortly unveil the first outlet at Shoppers' Stop in Hyderabad.

Titan's branded jewellery division, considered among the top five domestic retailers, currently operates a chain of 60 exclusive stores across 48 urban centres in the country. Till now, Tanishq had assiduously stayed away from shop-in-shop format even as other branded jewellery rivals such as Oyzterbay and Carbon tapped this route with much gusto. Titan's branded silver jewellery, FQ, already has presence in multi-brand stores.

Mr Jacob Kurian, Chief Operating Officer (COO) of the jewellery division, said the shop-in-shop channel would help Tanishq to carve out a larger share in the impulsive gift purchase segment. Moreover, the division felt the time was ripe to test the new retail format as exclusive stores had turned profitable and achieved stability.

Tanishq claims that most of its existing stores have reported profits and in the case of a few others it is re-negotiating the tough tenancy rights.

Incidentally, Tanishq has also made its international foray with shop-in-shop presence in the West Asian and Singapore markets. While it has tied up with Damas in the Gulf market, the jewellery division has entered Singapore with a shop in Mustafa, a leading retailer, especially amongst the Indian diaspora.