Jewellery brand Tanishq from Titan Industries has a sibling – Mia – targeted at working women. Retailing through the 130 Tanishq stores in 79 towns starting Friday, the range will be priced between Rs 6,000 and Rs 50,000.
Speaking to Business Line , Mr Sandeep Kulhalli, Vice-President, Tanishq, explained that of the (estimated) 50 lakh working women in India, the number shopping at Tanishq outlets was less than 50,000. In the absence of ‘daily wear' jewellery, these customers were buying traditional jewellery worn on special occasions, according to him.
“There was no wearable jewellery brand available, and we felt there was a clear gap. Mia has been created specifically as a wearable jewellery brand for working women,” said Mr Kulhalli.
The Mia range will comprise a modern range and an ethno-contemporary range spread across earrings, finger rings, pendants and bangles.
The company expects the average ticket size for Mia to be around Rs 25,000. While no targets for the sub-brand have been revealed, the media budget for the launch is in the region of Rs 5 crore. The brand was launched with an online teaser campaign, and the mass media campaign involving outdoor, print, television and online breaks today. Given the profile of the target group, the focus will be on urban markets.
Corporate campus push
“Mia will be present across all Tanishq outlets, but the thrust initially will be in urban centres where we expect higher response. We'll be going to large corporate campuses with on-ground events targeting working women, in addition to the mass media push,” said Mr Kulhalli. There will be no brand ambassador for the Mia range. Branded Mia shop-in-shops within Tanishq stores will not cannibalise Tanishq sales, noted the spokesperson.
“The designs of Mia are very distinct; the colours, look and feel of the brand, are clearly different. We expect 95 per cent of the sales of Mia to be incremental,” added Mr Kulhalli.
Jewellery sales
Tanishq accounts for the majority of jewellery sales of Titan Industries Ltd, with other brands Gold Plus and Zoya estimated to contribute less than 10 per cent.
Of Titan's turnover of Rs 6,571 crore in 2010-11, jewellery accounted for Rs 5,014 crore.