Tanishq sets up shop in US

Tanishq's jewellery division is looking at establishing the brand in the the US through the establishment of two stand-alone Tanishq flagship stores in cities on the eastern coast of the country. This pilot project is expected to be completed over the next six months.

"We already have exports to countries in West Asia, which contributes 5 per cent to our total sales. We will be looking at catering to the Indian population in the US and the American mainstream jewellery space through these stores, the details for which have not yet been worked out," said C K Venkatraman, chief operating officer, in Kolkata to inaugurate the brand's first concept store.

The products are expected to be designed and crafted at the brand's manufacturing unit in India and then shipped off-shore.

Tanishq does not plan to extend its network in the US through the shop-in-shop concept in departmental stores, although this is the model adopted for product sales in countries in West Asia, Venkatraman said.

Brand acquisition is also not on the radar right now, he said. There are no plans of making an initial public offering, either, for the brand's expansion plans in India and abroad.