Tanishq Dehradun unit to start by December

Tanishq's new manufacturing unit in Dehradun is likely to be operational by December.

The company has set up the unit at a cost of Rs 3.5 crore to meet the requirements of the northern region, which contributes 40 per cent of the retail domestic sales of the firm.

At present, Tanishq has a manufacturing unit in Hosur, Tamil Nadu.

"Our new unit in Dehradun will be operational by December. Initially, it will produce jewellery worth Rs 8 crore per month. Also, we have invited vendors to set up shop there and we are expecting to produce jewellery worth Rs 25 crore per month in the long run," said C R Natarajan, vice-president (factory), Tanishq.

Tanishq will manufacture diamond and gold jewellery at the Dehradun unit.

Saying that the company would increase capacity according to demand, he added, "The investment seems small, but will increase in accordance with market requirements."

The company also planned to increase the number of its showrooms to 100 by 2008 from the current 88, spread across 64 cities. It is looking at Bhatinda, Amabala, Rohtak, Karnal and Shimla for its showrooms.

"We are aiming to double our turnover by the end of this financial year, Also, the number our showrooms will increase to 100 by March," said Vipul Sachdeva, regional head (sales), who was in the city to launch Tanishq's festive collection.

The turnover of the company in the last fiscal was Rs 570 crore for the retail domestic market.