The Indian jewelry brand Tanishq opens its first U.S. store, in New Jersey.
The brand is owned by The Tata Group, a multinational corporation based in Mumbai that controls 30 firms across 10 categories, including Tata Motors, Tata Consultancy Services, Air India, and Jaguar Land Rover. The Tata Group is also the owner of the Jaguar Land Rover brand.
Titan Company Limited, which specializes in the creation of watches, jewelry, and eyewear, is Tanishq's parent company. Titan Company Limited is also owned by Tata Group and was founded in 1884.
There were a few noteworthy people in attendance for the opening of the store, including United States Senator Robert Menendez (Democrat of New Jersey) and Randhir Jaiswal, who is the consul general of India in New York.
According to the corporation, the decision to locate the store in New Jersey was influenced by the state's significant Indian-American community, which accounts for 4% of the total population.
The product line is geared toward catering to the ever-changing requirements of Indian Americans, who make up 4.35 percent of the entire population of the state and number 387,000 people.
The United States Census Bureau projected that sales at jewelry stores would reach $33.2 billion in the year 2020. This represents a 25% increase over the previous decade's sales totals.
Tanishq has been available in the United States market via e-commerce for more than a year and has gotten favorable comments from the community. Tanishq's strategy for expanding its retail company includes the introduction of this new venture.
Although the company has been present in the United States market for more than a year via e-commerce, the opening of the store is part of the company's aim to expand its retail operation.
Kuruvilla Markose, CEO of the international businessdivision of Titan Company Limited said:
Tanishq already has a significant online presence in the U.S. market. The high demand and interest shown by the Indian-American community encouraged us to have an on-ground presence for them. This showroom will have our latest collections and masterpieces designed to suit all jewelry needs of Indian Americans.- Kuruvilla Markose
More than 6,500 one-of-a-kind jewelry designs will be showcased in the 3,750 square foot, two-story showroom. These designs will be available in 18 and 22-karat goldand will feature diamondsand gemstones.
Tanishq presented its "Color Me Joy" cocktail jewelry collections as well as its "Romance of Polki" wedding jewelry collection and a few more collections during the event that marked the company's launch.
According to C.K. Venkataraman, managing director of Titan Company Limited:
We are on a mission to establish Tanishq as a global brand, and our retail showroom expansion in the United States is a significant step in that direction.- C.K. Venkataraman
This statement was made in reference to the expansion of retail showrooms in the United States.
"Tanishq has been balancing the elegance of tradition with the brilliance of modernity for decades and we want to bring it to New Jersey."
The business already operates more than 400 stores across 240 cities in India, and it has plans to launch more than 100 new outlets over the course of the following year.
In November 2020, it established its first international physical store in Dubai, and there are now a total of eight outlets located in other countries.
Within the next two to three years, the company intends to open anywhere from 20 to 30 additional facilities across North America and the Middle East combined. This expansion will take place.
WHY TANISHQ JEWELERY IS SO EXPENSIVE? IS IT THE BRAND NAME OR OPEN LOOT
The Tata Group's Tanishq is India's most popular jewelry brand. For over 20 years, it has been known for its high-quality craftsmanship, unique designs, excellent customer service, and guaranteed product quality.
At Tanishq, jewelry is more than just a product—it's a work of art. Our beautiful gold and diamondjewelry strike the perfect balance between old-fashioned charm and modern style. Tanishq wants to be a big part of every woman's life by making designs that show the beauty and joy of special occasions.
The Trust Research Advisory named Tanishq The Most Trusted Jewelry Brand in India in 2019, which shows how dedicated the company is to be the best. Tanishq is India's most trusted jewelry brand and has more than 400 stores. It has a very high brand recall.