Tanishq to glitter in US mart

Tanishq, the jewellery brand of Titan Industries, is all set to debut in the US "" one of the most lucrative retail markets in the world "" by next Christmas. The Rs 1,500 crore watch and jewellery major is looking to foray into this market during the prime shopping period on the global calendar that retailers address with their heaviest ammunition.

A spokesperson for Titan Industries confirmed the move and indicated that the initial plunge would be through the franchisee route. He said Tanishq would be launched in a couple of cities in the US and then depending on the acceptance will spread across the country.

International operations have always been a thrust area for the company and last year, the jewellery category clocked a massive 82 per cent growth overseas. This was part of a 48 per cent growth in the overall jewellery division revenue. The current year's target is touch Rs 1,100 crore.

Company officials see a huge potential in the US market due to the presence of huge number of people of Indian origin there. This category is also significant in terms of purchasing power. Tanishq is already being exported to Europe, US, Middle East and Australia.

Company officials are also thinking of targeting the average American consumer. "We can't ignore the general American consumer. We are figuring out details and the strategy will be firmed up in the next two months," the spokesperson said. The company is also considering a design overhaul if their target goes beyond the ethnic Indian niche. "Certainly the general US consumer will not accept designs, which are a big hit with Indians," he said.

Titan is making this foray after firmly establishing its leadership in watches in post-liberalisation India in the face of intense competition. The choice of Tanishq is significant as Indian craftsmanship in gold jewellery has been globally acknowledged.

A careful choice in terms of what is achievable and where Indian expertise lies is implicit as Titan is determined to get it right the second time. Its first foray into the international market, through the Euro watch in the nineties, did not succeed.