“A STUDY On Tanishq .

A Project Submitted to

University of Mumbai for partial completion of the degree of

Bachelor of Accounting and Finance

Under the Faculty of Commerce

By

Kajal Dogra

Under the Guidance of

Prof. Nishikant Jha

THAKUR COLLEGE OF SCIENCE & COMMERCE

March-2020

1
 “A STUDY ON Tanishq .”

A Project Submitted to

University of Mumbai for partial completion of the degree of

Bachelor of Accounting and Finance

Under the Faculty of Commerce

By

Kajal Dogra

Under the Guidance of

Prof. Nishikant Jha

THAKUR COLLEGE OF SCIENCE & COMMERCE

March-2020

2
 DECLARATION BY LEARNER

I the undersigned Miss. Kajal Dogra here by, declare that the work
embodied in this project work titled “A Study On Tanishq .”, forms my own
contribution to the research work carried out under the guidance of Prof. Nishikant Jha
is a result of my own research work and has not been previously submitted to any other
University for any other Degree/ Diploma to this or any other University.

Wherever reference has been made to previous work of others, it has been clearly
indicated as such and included in the bibliography.

I, here by further declare that all information of this document has been obtained and
presented in accordance with academic rules and ethical conduct.

Name and signature of the

learner
Kajal Dogra

Certified by
Name and signature of the Guiding Teacher
Prof. Nishikant Jha

3
 CERTIFICATE

This is to certify that Ms. Kajal Dogra has worked and duly completed her Project Work for the
degree of Bachelor of Accounting and Finance under the Faculty of Commerce in the subject
of Finance and her project is entitled, “A study on Tanishq .” under my supervision.

I further certify that the entire work has been done by the learner under my guidance and
that no part of it has been submitted previously for any Degree or Diploma of any University.

It is her own work and facts reported by her personal feelings and investigations.

Name and signature of guiding

teacher

(Prof. Nishikant Jha)

Date of Submission:

ACKNOWLEDGEMENT

4
 To list who all have helped me is difficult because they are so numerous and the
depth is so enormous.

I would like to acknowledge the following as being idealistic channels and fresh
dimensions in the completion of the project.

I take the opportunity to thank the University of Mumbai for giving me chance to
do this project.

I would like to thank my Principal, Dr. C. T. Chakroborty for providing the

necessary facilities required for completion of this project.

I take this opportunity to thank our coordinator Prof. Nishikant Jha for his model
support and guidance.

I would also like to express my sincere gratitude towards my project guide

Prof. Nishikant Jha whose guidance and care made the project successful.

I would like to thank my College Library, for having provided various reference
books and magazines related to my project.

Lastly, I would like to thank each and every person who directly or indirectly
helped me in the completion of the project especially my Parents and Peers who supported me
throughout the project.

5
 Executive Summary
An Indian Brand, which can make big in the
global market, is Tanishq from Tata Group of
Industries. Tanishq is India’s largest, most
desirable and fastest growing jewellery brand in
India. Tanishq today is India most aspiration fine
jewellery brand with an exquisite range of gold
jewellery studded with diamonds or colored gems
and a wide range of equally spectacular jewellery
in 22kt pure gold. Exquisite platinum jewellery and
designer silverware is also part of the product
range.

Thought they faced with many difficulty in the

early stages they for about six years they then
came with up with good strategies . The Tanishq

6
strategy for the coming couple of years relies on
two things increasing penetration in the domestic
markets and going abroad in order to diversify it’s
revenue portfolio.

Their main core competency is in designing a wide

range of products. They were the first to come up
with the idea of karat meter, which proves the
quality of the Gold, to win the trust of the
customer.

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 INDEX

Sr. Particulars Page no.

No
1. Introduction 1- 24
2 Market research 25 - 43
3 Golden Harvesting Saving Scheme 44 – 48
4 Anuttara 49 – 54
5 All that glitters is not gold 55 – 56
6 Finance research 57 – 61
7. Brand inventory of Tanishq 62 – 63
8 SWOT Analysis 64 – 67
9 Consumer Perception 68
10 Brand Exploratory 69 – 78
11 Tanishq's Competitors 79 – 85
12 Future Prospects 85 – 87 88
13 Conclusion 89
14 Bibliography

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INTRODUCTION

Tanishq is India‟s largest, most desirable and fastest growing jewellery

brand in India. Started in 1995, Tanishq is the jewellery business group
of Titan Industry Limited. Promoted by the Tata group., India‟s most
respected And widely diversified business conglomerate.

This year marks a decade of successful innings for Tanisha. With a retail
sales of 1200 crores last year and gunning for 2000 crores this year,
Tanishq has arrived in the Indian jewelry market. It is a story of a
successful Indian enterprise, which has delivered value to its customers

9
and shareholders in a complex category, marked by its completely
localized front end as well as back end.

Tanishq has set up production and sourcing bases with through research
of the jewelry crafts of India. Jewelry at Tanishq is crafted in one of the
world‟s most modern factories. The factory complies with all labour and
environmental standards. Located at Hosur, Tamil Nadu, the 1,35,000
sq. ft. factory is equipped with the latest and most modern machinery
and equipment. Every product at Tanishq is painstakingly crafted to
perfection. Diligent care and quality processes ensure that the Tanishq
finish is unmatched by any other jeweller in the country.

Tanishq challenged the age old jeweller‟s word with TATA's guaranteed
purity. It exploded the market with facts about rampant impurity across
India. It introduced technology backed challenge in a category
completely governed by individual trust. Tanishq introduced innovations
like Karatmeter, the only destructive means to check the purity of gold.

Tanishq also introduced professional retailing in the disorganized Indian

jewelry bazaar, where women can shop with comfort and peace, without
worrying about the purity of the jewelry they are buying as well as select
from the best jewelry collections available in the Indian market.

10
Tanishq today is India‟s most aspirational fine jewelry brand with 91
stores in 64 cities, with an exquisite range of gold jewelry studded with
diamonds or coloured gems and a wide range of equally spectacular
jewelry in 22kt pure gold. Exquisite platinum jewelry is also part of the
product range.

Jewellery is one of the last great commodity frontiers in India; it has

remained so because this market is very fragmented, very
unorganized. Tanishq has successfully taken on the challenge of
transforming this frontier into a reliable consumer space by
bringing to it all the virtues and benefits that branding offers.

- Harish Bhat , CEO , Tanishq.

In a market that has traditionally been dominated by family jeweler‟s, it

took the entry of Tanishq. India‟s largest, most desirable and fastest
growing jeweler brand from the house of Titan in 1995, to give Indians
access to a product whose promise was truly as good as gold.

11
Tanishq's appeal lies in the wealth of its designs and purity of gold. It
has won the trust and admiration of customers and created a unique
position for itself in the marketplace.

The association with Bollywood blockbusters likes Paheli and Jodha

Akbar and the 2003 Miss India beauty pagent have enhanced the brand‟s
appeal, lending it an aura of elegance and grandeur. Tanishq stands out
as a brand that abides by values of Trust worthiness, credibility and
respect. The power of Brand was further enhanced with the introduction
of karatmeters a tool that helped customers gauge the quality of their
gold in every Tanishq outlet.

By introducing revolutionary, innovative designs in a market that

worships tradition, the brand created it‟s own tradition of retail success.
Yet Tanishq is more than just a jewellery retailer. It stands for
reassurances of quality and ethics.
TAN + ISHQ = BODY + LOVE

The essence of this name is derived from the Urdu language, a Persian
Arabic from of dialect.

12
The reason behind electing this unique name for this company is the fact
that women and men alike had realized the magnificence of the human
anatomy since time immemorial.

Beautifying the human body was a primary part of the daily routine,
which took several hours of intense care.

Though today things have changed drastically, and time very precious to
one and all, nonetheless beauty remains a primary concern in the day to
day activities of every man and women.

Consequently the name Tanishq is synonymous to love for your body

where Tan signifies the body and ishq signifies love.

LAUNCHING OF TANISHQ

Titan launched Tanishq in 1995, India‟s largest, most desirable and

fastest growing jewelry brand in India. Diligent care and quality

13
processes ensure that the Tanishq finish is unmatched by any other
jeweler in the contry.

Tanishq challenged the age old jewelers word with TATA's guaranteed
purity. It exploded the market with facts about rampant impurity across
India. It introduced technology backed challenge in a category
completely governed by individual trust. Tanishq introduced innovations
like Karat meter, the only non destructive means to check the purity of
gold.

In its early days, Tanishq was positioned as an international jewellery

brand for the Indian elite. This meant it catered to a niche market.
Moreover, it‟s Italian designs in 18 carat, mostly studded jewellery did
not go down well with the traditional Indian women, used as she was to
22 carat jewellery. Abandoning it‟s westernised look. Tanishq's
designers chose to work on a fusion of contemporary and traditional
Indian motifs.

PRODUCT
The Tanishq portfolio comprises a wide range of jewellery, including 18
carat studded products, 22 carat plain gold products, silverware and
coins. Tanishq is the first brand in the jewellery category to introduce

14
collections designed exclusively for the modern Indian women,
especially working women.

Among the Tanishq collections that have caught the imaginations of

consumers is Aria, which draws inspiration from the traditional seven
stone jewellery that Indian women have worn for over 100 years. Aria
added a contemporary element to the traditional setting of the seven
stone cluster by using diamonds of different shapes and sizes. The use of
rhodium plating alongside the yellow gold gives this product a unique
look, modern as well as traditional.

Other winners from the Tanishq stable include Diva, which has pearls
encircled by diamonds, Hoopla, which boasts diamond hoops, and solo,
a collection that uses solitaire diamonds. The collection is stylish and
modern and is designed to suit all forms of attire, western and Indian,
casual and formals.

The introduction of lightweight gold jewelry that looked heavy but was
light in weight and on the purse marked another milestone in Tanishq‟s
brand history.

RECENT DEVELOPMENT

15
Tanishq has veered away from the high end French look that it started
out with to jewellery that is design differentiated and yet wearable. This
shift in its design ethos has helped make the brands product more
accessible to Indian women.

The Tanishq of today has little to do with conspicuous consumption and

much to do with meeting the aspirations and emotional needs of
consumers.

Tanishq's retail boutiques are temples for the brand and are used as a
platform for celebration, be it the launch of a new collection, a new
marketing promotion or a festival. This gives Tanishq outlets a unique
appeal and consumers an opportunity to heighten their shopping
experience. The launch of new collection such as Dancing Diamonds,
Ethics Gold, Paisley, Dewdrops and Avataar has enabled Tanishq to
establish itself as a frontrunner in the fashion jewelry scene.
One of Tanishq's more innovative ideas is to offer special schemes
during various festivals. Given India‟s diversity, this is never a one size
fits all initiative; rather, it means having different promotions at different
times of the year in different parts of the country. So, whether it is
Varalakshmi Puja in Andhra Pradesh, Durga Puja in Bengal, Onam in
Kerala or Karva Chauth in the North, the brand celebrates it with its
consumers in the right cultural spirit.

16
PROMOTION
Tanishq has deliberately moved away from mass media
advertising and focused on store promotions to make the
brand more accessible to consumers. This has been done
to correct the consumer perception that the brand is highly
priced and only meant for the rich and the famous. This
approach has also ensured that Tanishq‟s promotional
approach is product led. Promotions are organised from
time to time to activate the market. These events reinforce
the image of Tanishq as a trusted leader. The „Impure to
Pure Exchange' offer is an example of one such activation
based promotional campaign. Under this scheme,
jewellery buyers could exchange their impure jewellery of
any „caratage' for Tabitha‟s 22 carat jewellery. During the
promotion it offered to value consumers old gold
jewellery of 17 carat and above on Tanishq's Karatmeters.

17
Between August 1st and August 15th 2001, Tanishq
embarked on a promotion where discounts of up to 20%
were offered on all its jewellery. This was to say thank
you to a million consumers on the fifth anniversary of the
brand's launch. Over 1,00,000 people shopped at Tanishq
boutiques during this period.

Another consumer loyalty programme that has been

initiated by Tanishq is called the Golden Harvest Saving
Scheme, which offer buyers the benefit of getting more
jewellery than what they have paid for. The scheme
allows consumers to plan future purchases in advance and
pay for them in easy instalments. Consumers can choose
from two plans a 12 month annual plan and an 18 month
extended plan (the monthly installment can be for any
amount upwards of Rs 500). Tanishq contributes 60% of
the last monthly instalment in the annual plan and 130%
of the last monthly instalment in the extended plan, both

18
of which are part of the final price that the consumer pays
for the product.

BRAND VALUES
In sync with the Tata brand values, Tanishq is synonymous with trust
and purity in a category that is fraught with questionable practices.
Being a member of the Tata family has meant that it can leverage the
group's well earned reputation for ethics and values in a business where
such attributes are critical to win the trust of consumers. Tanishq
consumers can afford to take issues
such as purity for granted, and they know they can depend upon the
brand to deliver quality product‟s all the time. The brands winning

19
virtues in design and overall quality have shaped a class of discerning
buyers who seek the best in jewellery products.

Leadership and innovation are two of the other brand features that
Tanishq is consistently identified with. These values have helped the
brand bond with its consumers like no other Indian jewellery retailer.

BRAND AUDIT
A brand audit is effectively a health check of the brand to identify and
address problems areas with a net result of helping you turn things
around and grow your bottom line. Brands are like living entities with
life cycles. They start with much excitement and promise, grow and then
eventually plateau. It‟s at this mature stage of evolvement when they
potentially start to lose relevance as customers move on to the latest hot
new thing. A brand audit health check helps you monitor this cycle so
you keep your brand fresh and relevant and know when to reinvigorate
or revitalise before sales start to slip. A brand audit also enables you to
identify new areas for innovation and growth.

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Steps For Conducting BRAND AUDIT
● Create a framework
● Question your customers
● Review your web analytics
● Review social data
● Review sales data
● Look at your competitors
● Take action and monitor results

INDUSTRY PROFILE

India‟s gems and jewellery sector is one of the largest in the world
contributing 29 percent to the global jewellery consumption. The market
size of the sector is about US$ 75 billion as of 2018 and is estimated to
reach US$ 100 billion by 2025. The sector is home to more than 300,000
gems and jewellery players, contributes about 7 percent to India‟s Gross
Domestic Product (GDP) and employes over 4.64 million employees.
India‟s gems and jewellery sector contributes about 15 percent to India‟s
total merchandise exports. The overall net exports of gems and jewellery
stood at US$ 32.71 billion during FY18 registering a compound annual
growth rate (CAGR) of 5.83 percent over FY05; whereas gems and

21
jewellery imports increased at a CAGR of 7.97% from US$ 11.63 billion
in FY05 to US$ 31.52 billion in FY18. India is the world‟s largest centre
for cut and polished diamonds in the world and exports 75% of the
world‟s polished diamonds. Today 14 out of 15 diamonds sold in the
world are either polished or cut in India. India exported US$ 21.95
billion worth of cut and polished diamonds in April 2018 February 2019.

India is the largest consumer of gold in the world. Rising middle class
population and increasing income levels are the key drivers for the
demand of gold and other jewellery in India. Gold demand in India rose
11% year on year to 523.93 tonnes during January to September 2018.
Also, the Government of India has permitted 100% Foreign Direct
Investment (FDI) in the sector under the automatic route. As of January
2018, the Reserve Bank of India (RBI) has increased the scope of the
gold monetisation scheme by allowing charitable institution and
government entities to deposit gold, which is expected to boost deposit
over the coming months. The Bureau of Indian Standards (BIS) has
revised the standard on gold hallmarking in India from January 2018, to
include a BIS mark, purity in carat and fitness as well as the units
identification and the jeweller‟s identification mark on gold jewellery.
The move is aimed at ensuring a quality check on gold jewellery.

22
 MARKET RESEARCH

Market research is the process of systematically gathering, recording and

analyzing data and information about customers, competitor‟s and the
market. It‟s uses include to help create a business plan, launch a new
product or service, fine tune existing products and services, and expand
into new markets. Market research can be used to determine which
portion of the population will purchase a product/service, based on
variables like age, gender, location and income level.

Market research is generally either primary or secondary. In secondary

research, the company uses information compiled from other sources
that appears applicable to a new or existing product. The advantages of
secondary research are that it is relatively cheap and easily accessible.
Disadvantages of secondary research are the data used can be biased and

23
is difficult to validate. Primary market research involves testing such as
focus groups, surveys, field tests, interview or observation, conducted or
tailored specifically to that product.

MARKET RESEARCH FOR BUSINESS

PLANNING & GROWTH

Market research is for discovering what people want, need, or believe. It

can also involve discovering how they act. Once that research is
complete it can be used to determine how to market your specific
product.
For the growth and planning of a business there are a few things that are
important:

MARKET INFORMATION
Market information is making known the prices of the different
commodities in the market, the supply and the demand. Information
about the markets can be obtained in several different varieties and
formats.

MARKET SEGMENTATION
24
Market segmentation is the division of the market or population into
subgroups with similar motivations. Widely used bases for segmenting
include geographic differences, personality difference, demographic
differences, use of product differences and psychographic differences.

MARKET TRENDS
The upwards or downward movements of a market, during a period of
time. The market size is more difficult to estimate if you are starting
with something completely new. In this case, you will have to derive the
figures from the number of potential customers or customer segments.

But besides information about the targets market you also need
information about your competitors, your customers, products etc.

A few techniques are:

● Customer analysis
● Choice Modelling
● Competitor analysis
● Risk analysis
● Product research
● Advertising research

25
PRODUCT LINE & THE COLLECTIONS

PRODUCT LINE:

TANISHQ DIAMONDS
The sparkle of diamonds has always attracted the human eye. Finding
your perfect piece of diamond jewelry is an exhilarating and unique
experience. As with any significant purchase, it is important that you
make an educated decision.

Cut and crafted with utmost care, Tanishq diamonds come with a
certificate of authenticity, stating the cartage, court and clarity of the
stone, to enable you to know exactly what you are paying for.

No gemstone expresses human emotions more powerfully than a

diamond and Tanishq transforms these precious stones into breathtaking
masterpieces, each unique and splendid in design. When it comes to

26
diamonds at Tanishq you will be spoilt for choice from many collections
we have to offer.

TANISHQ GOLD

From the traditional harams, mangalsutras and thali to the more

fashionable earrings, chains bracelets and rings, there is a lot to choose
from at Tanishq.

In India Gold has always been associated with security and is the most
valuable form of investment. However, it has been observed that
consumer is an easy target to several malpractices like under karatage,
under valuation of the gold sold and unfair buy back policies due to the
lack of awareness about these issues.Tanishq propagates ethical
practices not only by assuring the customer purity and selling policies,
but also fair policies to the karigar who craft the jewelry.

Tanishq's designs in pure 22k gold are not only unique, expressing the
wearers individuality but each piece is subject to the intricate process of
design, crafting and stone setting with stringent quality standards at
every point. At Tanishq, we cater to every occasion. Our collections in
gold abound from the grandiose wedding collection to exotic kundan
and polki, from the stunning Aarka collections to the exclusive Nakashi
27
work. We ensure that we have something for everyone with our baby
range, 9 to 5 for the working woman and high fashion, mens wear, teens
collection and regional specific designs.

TANISHQ PLATINUM

Metal at its best.

PURE
Platinum's purity endows it with a brilliant white luster. This helps to
reflect the true radiance of diamonds. Because it is generally 95% pure
(18 karat gold is 75% pure) , platinum jewellery does not fade or tarnish
and keeps it‟s looks for a lifetime.

RARE
Platinum is rare, the coveted treasure of discerning individuals. There is
very little platinum on this earth and it is found in very few places
around the world. This exquisite metal is 30 times rares than gold.
Platinum‟s rarity makes it exclusive and distinctive – a celebration of
your individuality.

ETERNALPlatinum jewellery is the perfect choice for a lifetime of

everyday wear. Platinum does not wear away and holds precious stones
28
firmly and securely. All precious metals can scratch, and platinum is no
exception. However, the scratch on a platinum piece is merely a
displacement of the metal and none of its volume is lost

Some of the world‟s most famous gems are set in platinum, such as the
Kohinoor diamond, part of the british crown jewels.

Platinum and white Gold are distinctly different materials and must not
be confused. Platinum is a metallic element while White Gold alloy,
which gets its White Colour due to palladium or nickel.

Tanishq's platinum represents excellent value for money. The price may
be higher than a similar item in gold but platinum is pure, rare, enduring,
beautiful, luxurious, classic, and the perfect host for diamonds; previous
qualities that make it worth paying that little bit extra for.

THE COLLECTION:
THE DIAMOND COLLECTION
29
No gemstone expresses human emotions more powerfully than a
diamond after all, a diamond is timeless and finding your perfect
piece of diamond jewellery is an exhilarating and unique
experience. Cut and crafted with utmost care the diamond
collection renders each piece eternal.

THE WEDDING COLLECTION

30
The bride blushes; Everyone around smiles; The shenai
announces festivity; The priests chant auspicious promises; she
walks demurely; A vision of beauty; Her jewels are exquisite;
Crafted by the best in the land; As pure as the blessings
bestowed on her.

THE ZOYA COLLECTION

31
Intricacy coupled with the simplicity; The magnificence of
history interwoven with linear contemporary; Secrets of the
Pharaoh‟s masked with the mystery of the cosmos; oriental art
embellished with Occidental architecture; nature‟s bounty
matched with mans ingenuity.

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THE FASHION EARRING COLLECTION
The Fashion earring collection; has a range of over 300
exclusive designs. Keeping in tune with the raging popularity
that earrings currently enjoy, the Tanishq design team has creted
the Fashion earring collection, inspired by the evergreen
Jhumkas or Karnaphools and the trendy Chandelier and delicate
Stiletto designs.

33
THE KUNDAN AND POLKI COLLECTION
Influenced by the mughal era kundan work requires special
craftsmanship and a myriad of stages, each crafted by a different
set of highly skilled karigar. Tanishq as a revitaliser of tradition
brings to life techniques and motifs of the period through our
exquisite collections of Kundan and Polki (uncut diamonds). It
is difficult for jewellery to ensure the purity and correct
grammage of the product since it involves so many stages.
However, Tanishq ensures the Karatage and net wt of the
product.

34
THE COLOURS OF ROYALTY COLLECTION

Colors of Royalty a range of exquisite studded jewellery,

reminiscent of the magical Victorian era. The collection is
inspired by the classic design essence and sensibilities found in
the architecture, fashion, design, drapes and patterns of the
Victorian period. Tanishq has Incorporated the timelessness of
these styles into exquisite jewellery designs to present a
collection where fashion and traditiona converge. This line of
35
precious stones and diamond jewellery in 18k from Tanishq
comprises more than 200 pieces and is by far the largest studded
collection launched by us. This exclusive collection was
launched at the Ponds Femina Miss India 2006, where the 25
finalists wore it. The colors of Royalty is a line of exclusive
gems and stone studded jewellery that reflects the grandeur of
India‟s rich past represented through the varied meanings
associated with colours in our lives.

36
37
THE MOHAM COLLECTION
The collection comprises designs, motis inspired by nature that
have been beautifully crafted to make them the most desirable
possession this season. Mohan is a range of exclusive ruby
studded jewellery that embodies the auspiciousness the color red
has in our lives. Rubies have been associated with prosperity,
passion and have been the most coveted gemstone for many
years. It is a must have for a Indian women. This range attempts
to strike a balance between convention and fashion by creating
designs suitable for the progressive Indian woman, rooted in her
tradition.

38
Tanishq has built itself a reputation of bringing innovative
designs that suit the needs of “the ever-changing never-
changing” Indian woman. The crowns have been designed to
convey the essence of India through the use of distinctive motis
such as the traditional and auspicious „teeka‟ the Indian touch to
the contemporary styling. Crafted with painstaking detail, each
of these crowns convey a story; a story of their “ORIGIN”.
Inspired by interplanetary movements and colors of flora and

39
fauna, these tiaras are a stunning combination of trillions,
baguettes, round brilliant cuts, princess, pears, and specially cut
colored crystals. Each crown weights about 450 GM‟s and has a
special spring mechanism designed to fit perfectly on any size or
shape of head.

The inspiration behind each crown is distinct and personifies

the spirit of the title.

MISS Universe: This crown has the perfect cosmic blend of

elements, very like the universe itself. The large red stone, set
slightly on the side, is the symbolic and stylised „teeka‟.

Miss Universe: This frown has the perfect cosmic blend of

elements, very like the universe itself. The large red stone, set
slightly on the side, is the symbolic and stylised „teeka‟.

Miss World: The natural essence of this piece is enhanced by

the wave like undulating shape on the base of the crown, sitting
snugly on the forehead of the wearer. And of course the vivid

40
rectangular blue stone that expresses the teeka of victory, and
sets off the batting hues of the sea on the rest of the crown.

Miss Earth: This crown derives its inspiration from the essence
of nature her flora and fauna. Based on the fablous colours and
movement of the peacock and its feathers, this stunning piece is
an intriguing study in harmony and contract.

The jewellery crafted beautifully with jnterspersion of diamond

and colored stones, is an ode to the ecstatic beauty and supreme
power behind every women. The contemporary styling has been
brought to life with sensuous curves, balance, rhythm and
symmetry of classic Indian motifs in an unconventional
synthesis. These beautiful and vibrant gemstones in different
shapes, sizes and colors are sprinkled amongst diamonds to
create a symphony that enhances the look of the stones and adds
a dash of color to conventional designs.

41
Tanishq has translated the timekessness of these designs to a
modern context and brought to life a collection where fashion,
design and tradition blend perfectly.

TANISHQ FOR YOU

At Tanishq its not just the products, it‟s the experience that
matters. We make sure that we give you the premium quality of
not only product but service as well. Tanishq not only has an
exquisite range of designs to meet all your requirements we also
offer the benefits of any modification or customization on
products.
There are host of value added services that you can avail of at
Tanishq like the Golden Harvest Savings Scheme, Gift Voucher
purchase, Exchange of gold and diamonds etc.

Golden Harvest Saving Scheme

Tanishq's “Golden harvest Saving Scheme” is one of the most
lucrative savings schemes, that enables to save each month with
Tanishq and plan for wedding jewellery purchases. Your
monthly installments are safe with us, whereas savings at home

42
could easily get spent. This scheme provides you with much
better returns than other saving options like bank deposits or
post office savings schemes. In addition, Tanishq's special bonus
at the end of the scheme period helps you stretch your jewellery
budget.
How much money must one invest to enroll in the
savings scheme?
You need to invest only Rs.500/- per month to enroll. You
could also deposit a larger sum, as long as they are in multiples
of Rs.500/- You can choose from two convenient saving scheme
options an Annual plan (12 month installments) and an
Extended Plan (18 month installments).

BONUS:
● 60% of monthly installment in Annual Plan
● 130% of monthly installment in “Extended Plan”

At the end of the scheme period, pick up Tanishq jewellery of

your choice worth the amount deposited plus the BONUS

43
Installments Bonus for 12 Bonus for 18
Amount (Rs) Months scheme Months scheme
500 300 650
1000 600 1300
1500 900 1950
2000 1200 2600
Exchange Policy in Tanisha
Exchange your old jewellery for new with Tanishq
Most retailers have a differential buy back or different rates for
selling and buying gold jewellery. At Tanishq, a single gold rate
is maintained for buying or selling gold jewellery. 8% of the
value is deducted for costs involved with testing, refining and
taxes for the jewellery given by the customer.

When you exchange any Tanishq gold coin with jewellery, you
get the benefit of the current gold rate and full value exchange
without deduction. When you exchange any other banks gold
coin with jewellery there is a 4% deduction on value. This
deduction is made for handling and transportation costs and for
refining the metal received on exchange.

44
How are Diamonds exchanged in the market ?
How are diamonds exchanged at Tanishq?

Most jewelers exchange jewellery returned to them at the

purchase price hence any appreciation in the value of gold and
diamonds are not accounted for.
At Tanishq, when you exchange diamond jewellery purchased
from us it is exchanged for its current value, thus giving you the
benefit of any appreciation that would have taken place in the
price of gold or diamonds.

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Gift Vouchers

Gift Vouchers make the perfect gift for friends and family.
These are available at all Tanishq showrooms across India and
are also redeemable across the country, Gift vouchers are
available in the following denomination Rs. 2501/- , Rs. 500/- ,
Rs.10001/- , Rs.25001/- so now you no longer need to worry
about gifting your loved one, something of her choice!

Purity Checks
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Purity checks allow lovers of the yellow metal to test the purity
of the gold they already own. Playing a significant role in this
is the karat meter, which is the most scientific measure of
purity in the world. It uses X- rays to give an exact
reading of the purity of gold in just three minutes, giving
the consumer an unmatched benefit when buying or
selling gold. It is in fact the most scientifically proven,
non- destructive means of testing the purity of gold. Due
to its excellent precision, X- ray analysis has been
adopted by international agencies as well as by BIS in
India as part of the certificate process used to Hallmark
Gold.

Anuttara
You can also become the member of Tanishqs loyalty
programme Anuttara and avail of various discounts and
priveleges.

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Tanishq ventured into jewellery retailing in 1996 through
exclusive stores, both company owned and franchise
outlets , a concept unique to branded jewellery segment at
48
that time. In just over a decade Tanishq has achieved
several milestones and today is the largest jewellery brand
in the country with turnover of Rs. 1250 crores in the last
fiscal. This success of Tanishq is a result of an exclusive
blend of exquisite designs, trust and reliability,
innovation, highly focused communication strategy and
innovative retail strategy.

Innovation have been the hallmark of Tanishq all these

years. Tanishq has constantly formulated an innovation
product strategy this journey in line with the evolving
consumer tastes. Tanishq design studio has created
exquisite and varied collections like fashion earrings,
everyday, high-end Zoya Collection among others aimed
at distinctive consumer segments. Similarly Tanishq has
undertaken several unique retail initiatives keeping in
mind the customer demand for a world class shopping
experience. As such tanishq retail identity has evolved
49
over the years to offer large format and concept stores that
reflect the brands philosophy of being “Revitaliser of
Tradition” .

Commenting on Tanishq's success story, Mr. C K

Venkataraman, COO, Tanishq said we have been able to
capitalise on the trends of the local jewellery markets by
building on our solid financial strength, market leading
brand position, wide network, local sourcing strategy, a
management model of excellence and most importantly, a
philosophy of customer care. In the future, the key to
building stronger competitiveness will lie in enhancing
network coverage, brand equity and logistics.
tail strength goes beyond it‟s innovative identity and
extensive reach.

Tanishq has undertaken several unique retail and

marketing initiatives like creating purchase triggers like
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Doctors Day / Professional Day etc that were unexplored
avenue. Tanishq endeavored to be part of every occasion
in an Indian woman‟s life through festive promotions,
customer contact programme as well as through Anuttara,
Tanishq's exclusive consumer reward programme etc.
Following more than 40% growth in operations last year,
Tanishq will invest extensively during 2008 in marketing
and retail initiatives to further develop the market. In
addition, Tanishq will build new logistics centres and
upgrade existing ones, laying a solid foundation to meet
future competition.

Tanishq is the first and only jewellery brand to have

organized mass jewellery retail chains across the country.
As our company expands, more and more people will be
able to share our mindset. Brand Tanishq is for every
Indian women; it is at all times keyed in to their ever
changing demands, moods and tastes. It conveys a feeling
of self confidence and individualism that characterizes the
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Indian women. The offerings are in tune with fashion and
yet do not lose touch with tradition.

Tanishq the “Revitaliser of Tradition”

Tanishq has opened first of its kind concept stores at fort
Knox kolkata , South Extension Delhi, Kormangala
Bangalore and bund Garden pune. These stores reflects
the new retail identity of Tanishq the Revitaliser of
Tradition and combine the grandeur of the past with the
reality of the present without losing it‟s inherent character
and appeal.

The introduction of the idea of a concept store catapults

Tanishq unique brand identity in the retail space and takes
jewellery retailing in India to a new level. The concept
stores will take Tanishq closer to making it the complete
jewellery brand catering to varying consumer needs and
tastes across all consumer segments and also provide
customers a unique and innovative buying experience.
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The theme „Revitalizer of Tradition' has been
Incorporated in all the design aspects for the new concept
stores. The stores have a contemporary feel while
retaining the flavour of the past. Traditional craftsmen
were used to create a period ambience so that the store
replicates the authentic period look with its stunning sand
stone arches and special motifs inspired by the inlay work
of the Taj Mahal for the North and Easy stores and the
chettinad influence for the south stores.

Tanishq has plans to extend it‟s retail experience to a

larger consumer base by launching more concept stores
across the country.

ALL THAT GLITTERS IS NOT

GOLD
53
Branded jewellery players will continue to face lot of
competition from local jewellers. In order to gain market
share, they will have to come up with designs that
customer want and win the trust and confidence of
consumers by hall marking and demonstrating the purity
of the gold used by them.

To compete with traditional players, branded players must

also find some way to differentiate themselves. While the
success of a particular brand will depend on
diffetentiation, afford ability and quality will be a key
element in sustaining a brand. In addition, branded
players require focused advertising and astute sales
manship to compete with tradicional jewellery.

Besides the major brands Tanishq , Carbon, Oyzterbsy,

Gili and Trendsmith several regional players have opened
branches to leverage the trust and reputation that they
have built up over the years. This is going to add to the
54
competition in the branded jewellery players in India
focused on yellow gold, only a few of them experimented
with pink and white forms of gold. Some of the players
also used diamonds and pratibimb, which appear to have a
good future in the Indian jewellery market.

FINANCE RESEARCH
55
The finance department is lifeblood of organization. The
main role of finance department is supporting
manufacturing is that they process the purchase orders,
release payments to the suppliers.

The main source of income is through sales collection,

inter corporate deposits and other short term loans.
Besides these, disbursement of salaries to the employees,
reimbursement of travel expenses and other small time
purchasing activities. They also support manufacturing in
arriving at “Make or Buy” decision.

Product costing is also done here. The product costing is

done by calculation the utilization of machines and other
fixed costs. The costing method that is followed is
standard costing method.
2018 – 2019 Financial years:
● Company income crossed Rs 2000 crore mark.
● PBT crossed Rs 100 Crore marks.
56
● Share price crossed Rs 1000 and market
Capitalization crossed a billion dollars.

Market capitalization
Year. 2014-15 2015-16 2016-17 2017-18 2018-19
Mkt 218 500 1018 3530 4400
Cap
(Cr's)

57
58
59
BRAND INVENTORY OF TANISHQ
Brand Element
Brand Name : Tanishq
Brand logo : India’s most trusted jewellery
URL : https://www.tanishq.co.in/

Unique selling proposition of Tanisha

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Exclusive designs made by the designers of the company
The jewellery is manufactured for south Indian comes from the
manufacturing unit in Hosur.
Pioneer in introducing karat meter for purity.

61
SWOT ANALYSIS OF TANISHQ

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Brand Strengths
● Purity
● Certificate For Plain Gold
● Quality
● Trust
● Strictly Follows all the rules and regulations
Of the Government

Brand weaknesses
● Limited global presence
● Tough competition from other jewellery brands
● Escalated gold cost lower margin

Brand Opportunity

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● Global penetration in other countries
● Acquisition of smaller businesses to increase brand
Position and reach

● Tie ups with corporate and business partners

Brand Threats
● Economic fluctuations mean people decrease their
Spending

● Government policies, taxes etc also affects the

Premium jewellery segment

● Trends change quickly, hence innovations and R and D

Are investment.

Target Market Of Tanisha

● Tanisha target both men and women of different ages
● They have collections for both men and women for
64
 Different occasion
● Tanishq have exclusively holds jewellery collection
For men called Aveer in order to attract men as well.

Brand Positioning OF Tanishq

● The brand position itself as the leader of purity and
Trust of jewellery among customers.
● It had wide and exclusive range of collections.
● Provides certificate of authenticity
● Most ethical in nature

Brand Communication
● TV advertisement featuring Deepika Padukone
As brand ambassador
● Pamphlets, invitation to all customers in that locality
● Text messages and online advertisements

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● The brand follows both traditional and modern methods
Of communication to interact with the customers.

Challenges Of The Brand

● Every design created has a valid period of 180 days and
If the jewellery is sold within those days the jewellery
Will be melted and the design will not be available In the
stores.
● The value for the jewellery is fixed and cannot be
Reduced like other stores which results in losing
Some customers.

Consumer Perception About The Brand

66
Brand Exploratory Of Tqnishq
Demographic Profiling
67
Occupation Of Respondents

68
Gender Of Respondents

Age Of Respondents

69
Frequency Of Buying Jewellery

70
Analysis of Brand Audit

71
Overall Average Of The Constructs

Interpretation
From the chart of the mean of constructs
it is seen that among other constructs
brand image of Tanishq stands on top
which indicates that Tanishq have a good
image among customers.

72
BRAND AWARENESS

INTERPRETATION
From the chart it is found that most
respondents strongly agree that they are
familiar with the Tanishq brand and it is
a part of Tata Group.
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Brand Judgement

Interpretation
From the chart it is seen that most
respondents mostly agree to the fact that they
have a positive opinion about the brand and

74
the brand and the ambulance is better than
the other jewellery stores.
Brand feelings

Interpretation
It is seen that respondents feel good while
wearing the brands jewellery and it is
comfortable for them to wear it anytime.
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Brand Performance

Interpretation
From the chart it is seen that respondents
agree that tanishq is a good brand
performance by delivering quality products
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and by offering good service to the
customers.
Brand Imagery

Interpretation
From the chart it is evident that respondents
think that the package of the product reflects
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the brand image and think that the brands
product are priced higher than the other
brands.
Brand Resonance

Interpretation

78
From the chart it is found that respondents
are most likely to recommend the brand to
their family and friends.

Some of Tanishq Competitors

Asmi
Admi, one of the leading diamond brands of the country,
was launched, in 2002 by the Diamond Trading
Company LTD, (DTC).
The Asmi diamonds jewellery collection is crafted to
beautifully compliments and complete her. Asmi caters to
the women of substance and satisfies her mind for
rewards recognitions, evolving to suite her style and
personality.

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The brand has been endorsed by various celebrities such
as kajol, Mandira Bedi and Parisad. All these women
epitomize the different strengths. An asmi women is
closely identifies with free spirited , goal oriented and
with an inner fire.

Nakshatra Diamonds
The world renowned Nakshatra diamonds were launched
in 2000, with an equally dazzling Aishwarya Rai as it‟s
brand ambassador. In the present scenario Nakshatra
diamonds occupy a leading position in the fashion
diamond jewellery segment. The traditional diamond is
the most wanted design among Nakshatra diamonds.
Nakshatra diamonds claim to shine your glamour and love
life. They have aptly put their slogan as brightest circles
of light. Elegant and graceful Nakshatra diamonds are the
epitome of passion, attitude and independence.

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Gili
Gili was launched in 1994, targeting mainly the youth
who wanted to celebrate valentines day. Since then, the
brand has clocked a turnover of Rs. 90 crores

Nirvana Diamonds
Nirvana diamonds from fine jewellery Ltd. Was launched
in 1987 in India. Nirvana diamonds are targeting at
fashion conscious, modern and independent thinking
women. Internationally acclaimed Nirvana diamonds are
manufactured by using state of the art technology. As a
proof of their quality Nirvana was Among one of the
brands to offer lifetime warranty to its consumers.

D'damas Diamonds

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D'damas Diamonds are part of Gitanjali Digico Group and
one of the earliest diamond houses established in India in
1966. On the present day D'damas Diamonds offer highly
modernized diamond cutting and polishing facilities at
five locations in India. D'damas Diamonds claim to
promote a range of emotions through their collections.

Adora Diamonds
Adora diamonds were launched in India in July 2003 by
Mumbai based concept jewellery(India) LTD. On the
present day the still expanding retail network centers of
Adora expands to 117 outlets in 47 cities of India. Adora
means glory in Spanish and claims that it‟s diamond
collection is themed on love. Adora diamonds are for
adornment of every moment, occasion, and phase of life
through its up and downs.

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Kiah Diamonds
Worlds largest volume manufacturer of diamonds sheetal
manufacturing company (SMC) launched it‟s exquisite
Kiah diamonds collection in October, 2004. Kiah
diamonds are claims to be for celebrating womanhood.
The brand name kiah means beautiful place. On the latest
kiah diamonds have won the best showroom in the DTC
diamonds Season .

What Women Want ?

While Tsnishq and a few other regulars do occupy
womens mind space, the good news for other brands is
that women are not unduly influenced by the aspirational
longings of their hearts. A long history of fascination for
the yellow metal as a status symbol and as an instrument
of security and it‟s easy convertibility to cash has most
women, both working and non working , picking up gold

83
jewellery without precious stones as their most preferred
jewellery. With the economy moving upwards and
income levels increasing, gold consumption in India is
showing tremendous growth. WGC reports that there has
already been a 50 % increase in the first half over the
same period last year. With established jewellery
manufacturers (read brand owners) recognized the
everlasting appeal of gold among India.

What Did Women Really Buy?

An interesting question is whether there is a difference in
what women consider as indias best brand and what they
finally opt for. Quite naturally, price structure and
affordability are in conflict with aspirations. However ,
there has been little or no difference observed in our
targets group in their choices. This may be because most

84
jewelry brands have a varied price range that caters to
women belonging to different segments of society. Even
in a high profile brand at least a few lines are made
affordable to most people. Thus, the toppers in the best
known category come up Trump‟s even here.

Future Prospects
The Indian branded jewellery market, though nascent,
grew at the rate of 20 – 30 % during 1998 – 2000. Besi
des Tanishq, other major players included inter gold, gili
and carbon.
However, in the Rs 400 billion Indian jewellery market,
Tanishq share was not even 1%

Not willing to accept this as a poor show. Tanishq saw it

as a vast opportunity instead . The company planned to
attain a 2% market share in the next few years. Kuran said
the jewellery market is one of the largest consumer

85
segment in the country. It has an estimated 2,50,000
retailers with no national or international brand and no
corporate players.

Titan believes that this market is right for considation. A

consumer oriented, highly ethical corporate player will
have great opportunity. Our growth rates in the past three
years have fully substantiated this hypothesis. Tanishq
had ambitious plans to invest in information technology
and utilize intaranet and the internet to link all of its
showroom to one another.

There were also plans to do online monitoring of sales

and design popularity as well as using the internet to place
orders. The intranet was to contain a photo collection of
all the designs in all the stores so that even those not in
stock in a particular store could be ordered by customer.
In a highly innovative move, Tanishq tired up with
86
country wide finance for providing pre approved credit
line to the customers at selective outlets. This was
expected to boost sales significantly in the future. In May,
2000 Tanishq unveiled plans to surpass its parent
companys turnover by 2018. Jacob kurian who had taken
over as the CEO, the same month, said “ we have finally
figured out the jewellery business and should be
solidly profitable, shorn of any caveat, this year”.

CONCLUSION
Tanishq is facing very stiff competition, his
competitive has forced. Titan to change its business
model to suit today‟s requirement. Titan has
diversified itself from watch manufacturing to create
itself a name in fashion accessories. Titan has all its
focus on customer orientation.

87
The company has adopted world class
manufacturing practices like TQM, TPM, JIT 5s
etc., To have value addition for its products and
customers. Titan has now adopted a lean
manufacturing style from the contemporary one. The
products that are customer driven and highly market
sensitive. The manufacturing capabilities have been
made flexible to suit the market need.

BIBLIOGRAPHY
www.rediff/business.com
www.tanishq.co.in
www.wikipedia/tanishq.com
www.google.com

Other Sources:
Newspaper
Business magazines
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Tanishq catalog

89