Tata Group’s jewellery brand Tanishq today said it is considering launching a new collection targetted at teenagers, for which it is conducting a pilot project and a final decision will be taken by the end of this financial year.
The jewellery division of Titan Industries is also expanding its footprint in the North Eastern region and looks to open two more showrooms in next fiscal.
“We are doing some experiments for the teenagers. They usually buy some fashionable junk jewelleries and we are looking to tap that segment,” Saumen Bhaumik, Associate Vice President, Titan Industries said here.
The company is currently conducting a pilot project to judge the response for its products and has opened six kiosks in Delhi, Mumbai, Bangalore and Pune, he added.
“We started the pilot project in February this year. We will take a call on national launch of the collection by the end of this fiscal,” Bhaumik said.
The collection of jewelleries, which are priced between Rs 499 and Rs 4,999, has received a moderate response so far, he added.
Tanishq today entered the fashion jewellery space with the introduction of IVA collection in 18-karat gold that are priced over Rs 20,000. It will initially be sold at eight locations — New Delhi, Mumbai, Bangalore, Kolkata, Pune, Ludhiana, Chandigarh and Hyderabad from December 25, 2013.
“We have tied-up with TIPS Industries, the producers of action-thriller Bollywood film ‘RACE 2’, wherein actresses Deepika Padukone, Jacqueline Fernandez and Ameesha Patel will be seen donning the collection,” Bhaumik said.
Talking about its expansion plans, he said the brand will add over 10 stores next fiscal to its current strength of about 150 outlets across the country.
“We are expanding in the North East, which has a big potential. We are planning to open two more stores there in the next 12-18 months,” Bhaumik said.
The brand at present has two showrooms in Guwahati and Agartala, he added.
“We will open a second outlet in Guwahati, where we have received very good response so far. We are exploring option to open the second one in a smaller city like Jorhat or Silchar,” Bhaumik said.
Tanishq at present has over 20 showrooms in the the Eastern region, comprising Bihar, Jharkhand, Orissa, West Bengal and North East.