The Dilemma

• National Jeweller,
Tanishq Westernised products, up-
market

• Wedding Jeweller, Cost

GoldPlus
effective, Smaller Towns

• Tanishq or GoldPlus to pursue smaller cities?

 Jewelry in India
1 3 5 7

Socialist Rule Growth Indian Women Local Jeweler

• High income tax • 45% demand • Jewelry became • 25000 family
• Converted Cash to surge very important in owned
gold • One of the fastest Indian Women’s independent
growing gold life jewelers
• No National level

1950s
markets in the
world jewelers

1990s

2000
Liberalization Consumption Indian Wedding Tanishq
• Import of gold • According to • Gold investment • 1st national level
became easier World Gold in wedding is 8 jeweler
• Gold industry Council, India has times the annual • Local Competitors
started to thrive 7% of the world’s per capita of India are bigger than
gold stock Tanishq

2 4 6 8
 Titan Industries
Joint Venture Quartz Indian Consumer
• Introduction of quartz
• Incorporated in 1984 • Changed the Indian
watches
• Joint venture between consumer behavior to
• Replaced Mechanical
Tata group and TIDCO buy expensive watches
watches

Additional Brands Tanishq watches Failure

• Sonata – Lower end • Expensive gold watch • Tanishq watches was a
• Fastrack – Youngesters • Targeted high income disaster in market
• Nebula – High end customers • Too high price
 Watches to Jewelry

No differentiation needed in plain Planned to introduce studded

Tanishq opened 1st boutique in
gold jewelry and no pricing jewelry in 18-Karat gold, instead
1996 at Chennai
power of 22-Karat gold

18-Karat not perceived as suitable Boutiques were like 5-star hotels

for Weddings, as consumers were with western designs, so people
stuck with 22-Karat gave “not for me” reaction