Professional Documents
Culture Documents
Tanishq Jewellery Project
Tanishq Jewellery Project
INDUSTRY PROFILE
2
Tanishq was coined from a combination of Tata/Tamil Nadu and Nishq (meaning
a necklace of gold coins) and, again, from Tan, meaning body and Ishq, meaning
love.
It was launched in 1994 as a range of jewellery and jewellery watches meant for the
European & American markets. But things began to change globally around this time,
and the West entered a protracted period of slow economic growth followed by
recession. Supplying jewellery to the Americans & Europeans suddenly no longer
seemed an attractive proposition.
Initially, the criticism for Titans foray into jewellery was loud and often bitter.
Eventually, however, the critics were silenced. Tanishq, today, is perhaps the only
major Tata brand with a strong appeal for women. Very importantly, Tanishq has
brought to the market a whole new standard of business ethics and product reliability,
in the process bringing about a transformation in the manner in which jewellery is
bought and sold in India.
It has created a revolution in the Indian jewellery trade and in jewellery buying
behavior, and continues to set new parameters of excellence for others to follow.
The Indian market, on the other hand, opened its doors to the world, and was now
flooded with foreign currency. By the time Tanishq established its manufacturing
facility and entered the market, the premises on which the project was based had
altered substantially.
Foreign currency was no longer an issue, import licenses were easy to obtain and the
global demand-supply equation for jewellery had shifted in favors of buyers. Tanishq,
therefore, switched tracks and shifted its focus to the Indian market and develop a
somewhat grandiose vision of the brand as a composite avatar of Cartier, Tiffany,
Esprit, and Ernest Jones all rolled in one.
COMPANY PROFILE
3
Tanishq is India's largest, most desirable and fastest growing jewelry brand in India.
Started in 1995, Tanishq is the jewelry business group of Titan Industries Ltd promoted by the TATA group, India's most respected and widely diversified business
conglomerate. It is located in Hosur (spicot).
This year marks a decade of successful innings for Tanishq. With retail sales of 1200
crore last years and gunning for 2000 crores this year, Tanishq has arrived in the
Indian jewelry market. It is a story of a successful Indian enterprise, which has
delivered value to its customers and shareholders in a complex category, marked by
its completely localized front end as well as back end.
Tanishq has set up production and sourcing bases with through research of the jewelry
crafts of India. Jewellry at Tanishq is crafted in one of the world's most modern
factories. The factory complies with all labour and environmental standards. Located
at Hosur, Tamil Nadu, the 1, 35,000 sq. ft. factory is equipped with the latest and most
modern machinery and equipment. Every product at Tanishq is painstakingly crafted
to perfection. Diligent care and quality processes ensure that the Tanishq finish is
unmatched by any other jeweller in the country.
Tanishq challenged the age-old jeweller's word with TATA's guaranteed purity. It
exploded the market with facts about rampant impurity across India. It introduced
technology-backed challenge in a category completely governed by individual trust.
Tanishq introduced innovations like Karatmeter, the only non destructive means to
check the purity of gold.
Tanishq also introduced professional retailing in the dis-organised Indian jewelry
bazaar, where women can shop with comfort and peace, without worrying about the
purity of the jewelry they are buying, as well as, select from the best jewelry
collections available in the Indian market.
Tanishq today is India's most aspirational fine jewelry brand with 91 stores in 64
cities, with an exquisite range of gold jewelry studded with diamonds or coloured
gems and a wide range of equally spectacular jewelry in 22Kt pure gold. Exquisite
platinum jewelry is also part of the product range.
Jewellery is one of the last great commodity frontiers in India; it has remained so
because this market is very fragmented, very unorganized. Tanishq has successfully
taken on the challenges of transforming this frontier into a reliable consumer space
by bringing to it all the virtues and benefits that branding offers".
- Harish Baht, CEO, Tanishq.
Swot analysis
Strength
Purity.
Distribution network and retailing
stores.
Award winning deposit.
Diversity in jewellery / gold /
diamond / platinum.
Competitive price.
Opportunities
Global market.
Low cost jewellery.
Customized jewellery design.
Concentrate on gen-x by having
trendy jewellery.
Expand retail store.
Weakness
Capture Rs 70,000 crore.
Escalated gold cost lower margin.
Threats
Competition.
Lack of skilled workers.
Gold are not seen as a source of
investment.
Vision Statement:
Vision:
To be innovative world class, contemporary and build Indias most desirable
brands.
Customer focus:
Titan passionate about understanding customer needs and expectation
delighting a customer is therefore a nature outcome.
Quality:
They will attain and maintain excellence in all that they do.
Wealth creation:
They ensure creation of value in all that they do for stake holders.
Corporate citizenship:
They care about the environment and the community; they live in and will
invest a part of their resources in improving them.
Mission Statement:
Titan seeks to achieve these value goals through a focused pursuit of
outstanding quality in both the ends that we target and the means that we adopt. Titan
encourages and enables individuals and groups to realize their fullest potential
through rationality and creativity, cerebration and passion, transparency and
informality, pride in the past and excitement about the future.
PRODUCTION DEPARTMENT
PRODUCT LINE AND COLLECTION
Tanishq Diamonds
The sparkle of diamonds has always attracted the human eye.
Finding your perfect piece of diamond jewelry is an exhilarating and unique
experience. As with any significant purchase, it is important that you make an
educated decision.
Cut and crafted with utmost care, Tanishq diamonds come with a certificate of
authenticity, stating the caratage, colour and clarity of the stone, to enable you to
know exactly what you are paying for.
No gemstone expresses human emotions more powerfully than a diamond and
Tanishq transforms these precious stones into breathtaking masterpieces, each unique
and splendid in design. When it comes to diamonds at Tanishq you will be spoilt for
choice from many collections we have to offer.
Tanishq Gold
From the traditional harams, mangalsutras and thalis to the more fashionable earrings,
chains, bracelets and rings, there is a lot to choose from at Tanishq.
In India Gold has always been associated with security and is the most valuable form
of investment. However, it has been observed that consumer is an easy target to
several malpractices like under karatage, under valuation of the gold sold and unfair
buy back policies due to the lack of awareness about these issues.
Tanishq propagates ethical practices not only by assuring the customer purity and
selling policies, but also fair policies to the karigars who craft the jewelry
Tanishq's designs in Pure 22k gold are not only unique, expressing the wearer's
individuality but each piece is subject to the intricate process of design, crafting and
stone setting with stringent quality standards at every point. At Tanishq, we cater to
every occasion. Our collections in gold abound from the grandiose wedding collection
to exotic kundan and polki, from the stunning Aarka collections to the exclusive
Nakashi work. We ensure that we have something for everyone with our baby range,
9 to 5 for the working woman and high fashion, men's wear, teen's collection and
regional specific designs.
Tanishq Platinum
Metal at its best.
Pure
Platinum's purity endows it with a brilliant white luster. This helps to reflect the true
radiance of diamonds. Because it is generally 95% pure (18 karat gold is 75% pure),
platinum jewelry does not fade or tarnish and keeps its looks for a lifetime.
Rare
Platinum is rare, the coveted treasure of discerning individuals. There is very little
platinum on this earth and it is found in very few places around the world. This
exquisite metal is 30 times rarer than gold. Platinum's rarity makes it exclusive and
distinctive - a celebration of your individuality.
Eternal
Platinum jewelry is the perfect choice for a lifetime of everyday wear. Platinum does
not wear away and holds precious stones firmly and securely. All precious metals can
scratch, and platinum is no exception. However, the scratch on a platinum piece is
merely a displacement of the metal and none of its volume is lost.
Some of the world's most famous gems are set in platinum, such as the Kohinoor
diamond, part of the British crown jewels.
Platinum and White Gold are distinctly different materials and must not be confused.
Platinum is a metallic element while White Gold is a Gold alloy, which gets its white
colour due to palladium or nickel.
Tanishq's Platinum represents excellent value for money. The price may be higher
than a similar item in gold but platinum is pure, rare, enduring, beautiful, luxurious,
classic, and the perfect host for diamonds; precious qualities that make it worth
paying that little bit extra for.
THE COLLECTIONS
The Diamond Collection:
No gemstone expresses human emotions more powerfully than a diamond After all, a
diamond is timeless and finding your perfect piece of diamond jewelry is an
exhilarating and unique experience. Cut and crafted with utmost care the diamond
collection renders each piece eternal.
10
11
12
Number of Employees
900
568
915
383
172
196
3,134
Percentage
29
18
29
12
5
6
100
Recruitment:
In case of recruitment for the vacancies approved by the Management, the
recruitment will be done automatically except if the indenting section wants to
postpone or advance it, in which case they have to send a separate note for it.
As far as possible internal mobilization of people would be looked into and in
case of non availability of the right manpower within the company, we may either
refer to the application bank or advertise.
Recruitment will be carried out according to the standards specified in the
recruitment Standards Annexure.
15
As far as possible, the vacancies will be filled with trainees and wherever
previous experience is a must we will resort to experienced people. For each category
the selection process will be as follows.
Process of Selection:
Category
Operator Trainee (OPT)
Selection Process
Psycho Diagnostic Test (PDT)
Written Test, (WT), Practical Test (PT),
Interview, Medical & Security
Verification (SC)
Others Up to L3
L4 to L5
L6 and above
For a Managerial position either first class train fare or air fare will be
reimbursed as being mentioned in the call letter. The decision will be made by the
respective VP and Head of Human Resources.
Performance Appraisal:
Performance Appraisal is an objective assessment of an individuals
performance against well defined bench marks. The performance appraisal method
followed is based on the subordinate relationship, whereby the superiors rate their
subordinates.
Training:
Training is an ongoing processes aimed at capability building of the employees at all
levels. Training programs are classified into the following categories:
Skills
Knowledge
Behavioral
B. High performer
C. Good performer and
D. Performer
Trade union:
The company has one registered union being the Titan employee union (union),
which is registered or affiliated with any political party or other organization.
Tata code of conduct:
All the employees are bound by the Tata code of conduct under which they are
required to deal on behalf of the company with professionalism, honesty, integrity, as
well as high moral and ethical standards. Such conduct is to be fair and transparent
and be perceived.
Manpower and Business Plan:
o Manpower Planning and the requisite budget will be prepared at the end of the
financial year.
o General Manager HR will prepare manpower budget and get the approval for
any new recruitment from concerned.
MARKETING DEPARTMENT
Marketing Equals the Four Ps
Part of marketing is identifying the mix of "Ps" that makes your service unique. This
is also called your marketing mix. The next step is to shape your marketing mix and
position its components to create a unique identity for your business that attracts and
18
retains customers. Your market position is one or more selected benefits or features
that make your operation unique and different.
Product
Price
Place
promotion
The following steps will help you define your marketing mix:
Assess
whether
you
have
any
advantages
over
your
19
Titan realized that there was a huge untapped market for branded jewellery in India.
The critical success factors in the business were quality, fashionable design, and good
after-sales service. Titan also observed that the changing lifestyles demanded lighter
and trendier jewellery.
After its launch, Tanishq faced several problems. With its original focus on exports,
Tanishq's designs had been conceptualized for the Western markets and were
introduced in India without any alterations. Formal consumer surveys showed that
though brand awareness was quite high, it suffered from several negative perceptions.
Many potential customers thought the products were over priced and associated the
brand only with the rich.
Hence, Titan decided to change its strategy on two fronts:
Value proposition
Retailing.
The Tanishq strategy for the coming couple of years relies on two things increasing
penetration in the domestic markets and going abroad in order to diversify its revenue
portfolio.
Gold Jewelers Market in India
Before the liberalization of the Indian economy in 1991, only the Minerals and Metals
Trading Corporation of India (MMTC) and the State Bank of India (SBI) were
allowed to import gold.
The abolition of the Gold Control Act in 1992, allowed large export houses to import
gold freely. Exporters in export processing zones were allowed to sell 10 percent of
their produce in the domestic market.
In 1993, gold and diamond mining were opened up for private investors and foreign
investors were allowed to own half the equity in mining ventures.
In 1997, overseas banks and bullion suppliers were also allowed to import gold into
20
India. These measures led to the entry of foreign players like DeBeers, Tiffany and
Cartiers into the Indian market.
In the 1990s, the number of retail jewellery outlets in India increased greatly due to
the
abolition
of
the
Gold
Control
Act.'
This led to a highly fragmented and unorganized jewellery market with an estimated
100,000 workshops supplying over 350,000 retailers, mostly family-owned, single
shop operations.
In 2001, India had the highest demand for gold in the world; 855 tons were consumed
a year, 95% of which was used for jewellery.
The bulk of the jewellery purchased in India was designed in the traditional Indian
style. Jewellery was fabricated mainly in 18, 22 and 24-carat gold. As Hallmarking
was not very common in India, under-cartage was prevalent.
According to a survey done by the Bureau of Indian Standards (BIS), most gold
jewellery advertised in India as 22-carat was of a lesser quality.
Over 80% of the jewelers sold gold jewellery ranging from 13.5 carats to 18 carats as
22-carat gold jewellery. The late 1990s saw a number of branded jewellery players
entering
the
Indian
market.
Titan sold gold jewellery under the brand name Tanishq, while Gitanjali Jewels, a
Mumbai-based jewellery exporter, sold 18-carat gold jewellery under the brand name
Gili.
As the jewellery market was highly fragmented, lacked branding, and allowed many
unethical practices to flourish, Tanishq worked hard on a two-pronged brand-building
strategy: cultivate trust by educating customers about the unethical practices in the
business and change the perception of jewellery as a high-priced purchase.
At the end of the scheme period, pick up Tanishq jewelry of your choice worth the
amount deposited plus the BONUS
Installment Amount Bonus for 12 months Bonus for 18 months
(Rs)
scheme
scheme
500
300
650
1000
600
1300
1500
900
1950
2000
1200
2600
2500
1500
3250
3000
1800
3900
4000
2400
5200
5000
3000
6500
Asmi
Asmi, one of the leading diamond brands of the country, was launched, in 2002 by
The
Diamond
Trading
Company
Ltd,
(DTC).
The brand has been endorsed by various celebrities such as Kajol, Mandira Bedi &
Perizad.
All these women epitomize the different strengths. An Asmi woman is closely
identifies with free-spirited, goal-oriented & with an inner fire.
Nakshatra Diamonds
The world renowned Nakshatra diamonds were launched in 2000, with an equally
dazzling Aishwarya Rai as its brand ambassador. In the present scenario Nakshatra
diamonds occupy a leading position in the fashion diamond jewelry segment. The
traditional diamond is the most wanted design among Nakshatra diamonds.
Gili
Gili was launched in 1994, targeting mainly the youth who wanted to celebrate
Valentine's Day. Since then, the brand has clocked a turnover of Rs. 90 crores.
Nirvana Diamonds
Nirvana Diamonds from Fine Jewellery (I) Ltd. was launched in 1987 in India.
24
25
26
An entirely new concept in the Indian market thus had to struggle hard to be accepted
by the customers. Industry watchers were extremely skeptical of Tanishq and doubts
were being cast over its prospects. Tanishq began by offering jewellery in the 18-carat
gold range, with designs borrowed heavily from contemporary European brands. The
company justified its decision saying that it wanted to be 'different' from the
traditional Indian offerings.
Tanishq performed very badly in the next three years, posting a huge loss in 1997-98,
proving its detractors right. Jacob Kurian, Tanishq's chief operating officer admitted,
"Tanishq, as a concept, was far too ahead of its times." Even if one agreed with
Kurian, it could not be denied that Tanishq did commit mistakes.
Future Prospects
The Indian branded jewellery market, though nascent, grew at the rate of 20-30%
during 1998-2000. Besides Tanishq, other major players included Intergold, Gili and
Carbon. However, in the Rs 400 billion Indian jewellery market, Tanishq's share was
not even 1%.
Not willing to accept this as a 'poor show,' Tanishq saw it as a vast opportunity
instead. The company planned to attain a 2% market share in the next few years.
Kurian said, "The jewellery market is one of the largest consumer segments in the
country. It has an estimated 2, 50, 000 retailers with no national or international brand
and no corporate player.
Titan believes that this market is right for consolidation. A consumer-oriented, highly
ethical corporate player will have great opportunity. Our growth rates in the past three
years have fully substantiated this hypothesis." Tanishq had ambitious plans to invest
in information technology and utilize Intranets and the Internet to link all of its
showrooms to one another. There were also plans to do online monitoring of sales and
design popularity as well as using the Internet to place orders. The Intranet was to
contain a photo collection of all the designs in all the stores so that even those not in
stocks in a particular store could be ordered by customers.
27
In May 2000, Tanishq unveiled plans to surpass its parent company's turnover by
2002. Jacob Kurian who had taken over as the CEO the same month, said, "We have
finally figured out the jewellery business and should be solidly profitable, shorn of
any caveat, this year.
PROMOTION, ADVERTISING & PUBLIC RELATION
Promotion
Tanishq launches Free gold coin offer campaign
Tanishq launched its "Get Gold free with Diamonds" promotional offer were
customer be entitled to win at least one 22-kt one-gram gold coin on every purchase
of diamond jewellery worth Rs 5,000 and above.
"Get Gold free with Diamonds' caters to the aspirations of Indian woman by
providing an opportunity to
investment opportunity.
Akshaya Tritiya is one of the four most auspicious days of the Vedic calendar. The
Akshaya Tritiya pre-booking scheme along with the 10 per cent deduction on making
charge offer is available across all Tanishq boutiques
Advertising
Ms Karishma Kapoor the bollywood actress is the brand ambassador of the Product
Tanishq.
T V Advertisement
Tanishq focus on the emotional attachment in the advertisement like engagement,
marriage and such other occasions.
Print advertisement
In leading news paper and famine magazines are targeted to do the advertisement.
In short they know their target market and hence do advertising as required.
Bollywood tie-up
28
Has done tie up with Paheli where in the movie Ms Rani Mukherji Was seen wearing
Tanishq jewellery through out and in Jodha Akbar Movie were they launched a
product line named Jodha Akbar.
1996-97
1997-98
1998-99
1999-2000
2000-01
2001-02
2002-03
32
38
73
141
188
299
389
29
"Many people believe we should not be here today. They have kept telling us that the
business logic is against what we set out to do. But I am glad we have proved them
wrong," says Kurian proudly.
The estimated Rs 40,000 crore (Rs 400 billion) gold jewellery markets in India is a
rough one. There are over 300,000 jewelers, each powerful in his neighborhood.
One of the largest consumers of gold, the Indian household had a marked preference
for 22-karat gold, as opposed to the 18-karat designs that jewellery chains worldwide
chose to do their designs in. Not surprisingly, the skeptics were asking what Titan was
doing in the jewellery business.
In the late eighties, when India was facing a massive foreign exchange crisis, Titan,
the watches division, was told to look for a way to earn its own foreign exchange.
Jewellery seemed like a huge and interesting market to get into and Titan decided to
set up Tanishq as a jewellery division that would be focused largely on exports.
However, by the time it acquired the skills and set up the plant, the world had
changed. India no longer had a foreign currency problem, imports were easy to come
by, demand had come down in the global market, supply had grown in Asia and
margins had become very thin.
Tanishq then decided to focus on the Indian market. In August 1992 a pilot plant was
set up and production started in two years later. In 1996, Tanishq launched its first
store. It was a hitherto untried concept. The jewellery business in India was highly
fragmented and ruled over by local players. There was no national jeweler that people
could buy from, despite that India is the largest consumer of gold in the world.
Profits generated
Year
1996-97
1997-98
1998-99
2000-01
- 10.60
- 21.96
- 10.40
2.07
30
2001-02
2002-03
1.87
7.82
1996-97
1997-98
1999-2000
2002-03
14
24
43
Today, Tanishq counts companies like Hindustan Lever Limited, Pfizer, National
Panasonic, UB Group, Tata Tea and Tata Chemicals among its clients. "We saw
corporate sales as a new route to customer acquisition. Institutional sales help us beat
targets," says Kurian.
The challenges remain. Profit figures have yet to rise significantly. In 2002-03, on
revenues of Rs 389 crore (Rs 3.89 billion), Tanishq made a profit of only Rs 7.82
crore (Rs 78.2 million).
A slew of national brands have sprung up. From Nakshatra to TBZ to Carbon,
Tanishq has to battle a lot more at the market place.
Yet, Kurian says now it's a great time to be in business. "We believe jewellery
business is one of the few 'China-proof, Wal Mart-proof' kind of businesses,"
31
FINANCE DEPARTMENT
The finance department is lifeblood of organization.
Market capitalization:
Year
2002-03
Mkt cap
218
2003-04
500
2004-05
1018
2005-06
3530
2006-07
4400
(crs)
32
5000
4000
3000
2000
1000
0
2002-03 2003-04 2004-05 2005-06 2006-07
Sources Of Funds
Total Share Capital
Equity Share Capital
Share Application Money
Preference Share Capital
Reserves
Revaluation Reserves
Net worth
Secured Loans
Unsecured Loans
Total Debt
Total Liabilities
Application Of Funds
Gross Block
Less: Accum. Depreciation
Net Block
Capital Work in Progress
Investments
Inventories
Sundry Debtors
Cash and Bank Balance
Total Current Assets
Loans and Advances
Mar '06
Mar '07
Mar '08
Mar '09
12 mths
12 mths
12 mths
12 mths
82.28
42.28
0.00
40.00
150.30
0.00
232.58
148.84
119.09
267.93
500.51
Mar '06
44.39
44.39
0.00
0.00
283.06
0.00
327.45
172.67
74.34
247.01
574.46
Mar '07
44.39
44.39
0.00
0.00
391.78
0.00
436.17
188.11
69.78
257.89
694.06
Mar '08
44.39
44.39
0.00
0.00
506.85
0.00
551.24
116.76
58.65
175.41
726.65
Mar '09
12 mths
12 mths
12 mths
12 mths
420.42
243.97
176.45
19.56
27.02
374.39
90.12
38.29
502.80
150.96
515.48
264.34
251.14
15.97
27.02
677.48
92.06
50.73
820.27
179.06
558.07
285.61
272.46
9.99
47.39
1,021.09
96.45
51.91
1,169.45
111.34
593.04
318.56
274.48
19.52
7.66
1,202.69
106.22
54.69
1,363.60
128.82
33
Fixed Deposits
Total CA, Loans & Advances
Deferred Credit
Current Liabilities
Provisions
Total CL & Provisions
Net Current Assets
Miscellaneous Expenses
Total Assets
Contingent Liabilities
Book Value (Rs)
0.00
653.76
0.00
363.89
26.72
390.61
263.15
14.31
500.49
0.00
999.33
0.00
571.26
151.96
723.22
276.11
4.21
574.45
0.00
1,280.79
0.00
842.68
73.90
916.58
364.21
0.00
694.05
0.00
1,492.42
0.00
974.00
93.44
1,067.44
424.98
0.00
726.64
64.22
45.55
76.01
73.77
58.41
98.26
65.46
124.18
Income
Sales Turnover
Excise Duty
Net Sales
Other Income
Stock Adjustments
Total Income
Expenditure
Raw Materials
Power & Fuel Cost
Employee Cost
Other Manufacturing Expenses
Selling and Admin Expenses
Miscellaneous Expenses
Preoperative Exp Capitalized
Total Expenses
Operating Profit
PBDIT
Interest
PBDT
Depreciation
Mar '07
Mar '08
Mar '09
12 mths
12 mths
12 mths
12 mths
1,509.92
41.19
1,468.73
-9.74
72.58
1,531.57
2,181.69
46.22
2,135.47
4.71
246.22
2,386.40
3,098.20
47.35
3,050.85
-4.39
297.89
3,344.35
3,926.09
44.34
3,881.75
-5.91
178.67
4,054.51
981.62
10.02
109.41
3.46
248.68
41.01
-0.89
1,393.31
Mar '06
1,620.65
11.55
157.40
5.60
331.79
69.63
-0.52
2,196.10
Mar '07
2,431.79
13.90
189.66
5.96
358.05
84.12
-0.02
3,083.46
Mar '08
2,940.86
16.11
234.20
8.99
427.47
86.20
-0.09
3,713.74
Mar '09
12 mths
12 mths
12 mths
12 mths
148.00
138.26
31.71
106.55
19.66
185.59
190.30
33.07
157.23
25.59
265.28
260.89
39.44
221.45
29.73
346.68
340.77
68.46
272.31
41.76
34
0.00
86.89
-0.93
85.96
12.34
73.62
411.69
2.72
13.32
2.25
0.00
131.64
-0.20
131.44
37.32
94.33
575.44
0.39
22.19
3.83
0.00
191.72
2.57
194.29
44.02
150.27
651.68
0.00
35.51
6.04
0.00
230.55
-10.92
219.63
60.68
158.96
772.88
0.00
44.39
7.54
422.76
16.77
30.00
45.55
443.89
21.16
50.00
73.77
443.89
33.85
80.00
98.26
443.89
35.81
100.00
124.18
35
SYSTEMS DEPARTMENT
Systems
Hardware
Software
Hardware
Software
Certification
Certification
Maintenance
Maintenance
Outsourcing
Outsourcing
Development
Development
Up gradation
36
37
hi-valued
of
necklace,
earring
and
bangles.
The evening saw some prominent names from the entertainment & fashion industry
present at the wine and cheese party organized to launch the exquisite designs in hivalue diamond jewellery from Tanishq. Gorgeous and renowned super models Nethra
Raghuraman, Tapur & Tupur Chatterjee, Alecia Raut among others walked the ramp
at the fashion show showcasing the exclusive collection. It was an evening adorned
with
style
and
substance.
Speaking about the collection, Mr. Sandeep Kulhalli, Vice President, Tanishq said,
The demand for diamonds has been rising steadily and even the conventional gold
buyer is now opting for diamond jewellery. As a part of our strategy, we are focusing
on high-value jewellery which is targeted at the affluent buyer who is less focused on
the
investment
value
and
is
looking
more
at
the
ornamental
value.
Tanishq, from the Tata Group, has been synonymous with superior craftsmanship,
exclusive designs and guaranteed product quality. Designed to embody the modern
day Indian women, Tanishq hi-value diamond jewellery is an ode to her sensibilities.
Tanishq has been continuously evolving to suit her needs at various occasions in her
life. It has built itself the envious reputation of being the only jewellery brand in the
country that strives to understand the Indian woman and provide her with pure
jewellery that meets both her traditional and contemporary jewellery needs.
Tanishq, India's only national jeweler offers gold and gem-set jewellery (in 22 and 18
karat gold) in over 6000 traditional, western and fusion looks. The jewellery is
38
39
CONCLUSION
Titan is facing very stiff competition, his competitive has forced. Titan to change its
business model to suit todays requirement. Titan has diversified itself from watch
manufacturing to create itself a name in fashion accessories. Titan has all its focus on
Customer orientation.
The company has adopted World class manufacturing practices like TQM,
TPM, JIT 5S etc., to have value addition for its products and customers. Titan has
now adopted a lean manufacturing style from the contemporary one. The products
that are customer driven and highly market sensitive. The manufacturing capabilities
have been made flexible to suit the market need.
40
41
42