The turnaround story

1. a Tanishq- The
Turnaround Story

2. Introduction
 Tanishq is India's largest, most desirable
and fastest growing jewellery brand .
 Started in 1995, Tanishq is the jewellery
business based in Bangalore launched
by TITAN.
 The company wanted to be different by
offering 18 carat gold with
contemporary European designs.
Company made losses in 1995-96 , 1996-
97 ,1997-98.
,1997-98
 By 2001,Tanishq was the largest
overseas chain in the U.S. With 1200
stores and 10% of its turnover was from

3. Contd….
 Titan Watches Limited was
promoted by QIL & TIDCO.
 The company was India’s leading
manufacturer of watches
marketed under Titan & Sonata.
 Later Titan ventured in jewellery
business with the name Tanshiq.

4. Contd….
 Tanishq introduced innovations like
Karat meter, the only non destructive
means to check the purity of gold.
 Tanishq also introduced professional
retailing in the un-organized Indian
jewellery bazaar, where women can shop
with comfort and peace, without
worrying about the purity of the jewellery
they are buying, as well as, selecting
from the best jewellery collections
available in the Indian market.
 Tanishq has successfully taken on the
challenge of transforming this frontier
into a reliable consumer space by
bringing to it all the virtues and benefits
that branding offers.

5. S
w
O
T

6. STRENGT
H
Well executed marketing plan with
unique strategies.
 Largest overseas chain in U.S.
 Customer servies enhancement.
 In-house manufacturing enabled
it to charge same price across the
country.
 In-house designers.

7. WEAKNE
SS
 Escalated gold price.
 Share was not even 1% in Indian
jewellery market.
 Introduced with high standards.

8. OPPORTUNITI
ES
 Global market .
 Customized jeweler design.
 Own retail stores.
 Indian wedding market .
 Introduced revolutionary concept
of karat meter.

9. THREATS
 Competitors (Inter gold, Gili and
Carbon).
 Fashion trends keeps on
changing .
 Varying gold prices.
 Local markets.

10. The changes in Gold
Prices

11. Market Strategies
 TRANSMIGRATION OF DESIGNS: Tanishq started stocking typical
designs from Tamilnadu in Mumbai and those from Bengal in Delhi . yet
being Indian , these designs provide variety to customers.
 CONTINOUS CHANGE IN DESIGNS : At least 10% of designs were
changed at quarterly basis and fresh stocks were added to the stock.
 OWN CHAIN OF RETAIL STORES : At starting phase the company
sold it’s product through multibrand stores . But now it has 47 ‘Tanishq
Boutiques’ in 37 cities –including metros.

12. Tanishq vs Others

13. Contd……
 INTRODUCTION OF KARAT METER : To check the purity of gold
without wasting it , they introduced Karat meter .It was imported from
Germany and it uses X-rays to check the purity of gold . It proved to be
the biggest USP for Tanishq .
 RETURN GUARANTEE & EXCHANGE OFFER: They provided 100%
return guarantee on it’s brand of jewellery and also exchanged other
jewellery after deductions depending on purity.
 STANDARDIZED PRICE : Tanishq decided to have a standard gold
price across all it’s showrooms from March 2000.

14. Contd……
 ENTRY LEVEL PRICE: The entry level price was as low as Rs.600
(for a pendant).
 LINK WITH (LME): Tanishq linked directly with London Metal
Exchange for daily quotes of gold in the future.
 LAUNCH OF (CSMM): Tanishq started customer satisfaction measure
program with the help of CSMM[Customer Satisfaction Measure
Management],an associate of IMRB. CSMM tracked customer
satisfaction parameters from Tanishq on a quarterly basis . This gave the
company the benefit of benchmarking against international & Local
players.

15. Contd……
 CORPORATE GOLD GIFT SCHEME: This scheme was launched in
December 1998 and it proved to be a major success . Tanishq delivered
50,000 ‘customized gold coins’ to 0.25 million Maruti car owners
nationwide as a part of the 15th anniversary celebrations of Maruti Udyog.
This scheme accounted for about 5% turnover by 2001, and over 30
corporate clients like Coca Cola , Whirlpool , The UB Group , The TVS
Group , CEAT & Liberty Shoes.
 SEASONALPROMOTION: They promoted their products based on
Indian festivals.

16. Future
Strategies
 Consumer – oriented.
 Highly ethical corporate player.
 Investment in IT.
 Online ordering of gold.
 Global branding strategy.
 Expected to boost their sales.
 Planning to surpass its parent
company’s turnover

17. Recommendations
 Building Relationship
 Expand their markets
 Launching of low price
products
 Promoting their products for
wedding

18. THANK YOU