Tanishq plans retail expansion

Tanishq is planning to expand its retail network and is considering opening over 20 stores in 2014-15, reports say. The company currently re-launched a store in Ahmedabad in the state of Gujarat, which will also make it the company’s ninth large format store in the country, reports say.

Majority of the expansion will be concentrated on large format stores, as the company intends to cater to a large number of customers. With this, Tanishq aims to increase its share in the jewellery market which at present is around 4 percent. It is expecting to see some growth this year over the slow business pace of last year. It also noted that consumers’ jewellery interests are expanding towards diamond, daily-wear and contemporary jewellery, reports say.