TANISHQ INTRODUCTION Tanishq has expanded its portfolio with the launch of sub-brand Mia, a line of jewellery targeted at working women. The line comprises two distinct designs directions – one in the modern and another in the ethno contemporary space. Mia is meant for women on the go, who are engaged in various professions and have a well-established accessory ensemble, unfortunately excluding jewellery. Fine jewellery that working women buy is mostly for traditional occasions, and do not have an offering for their daily wear in the market.
Tanishq is best suited to understand the needs of these consumers and has put together a wonderfully crafted, well designed jewellery collection, which will make them love to go to work. This collection is high on design quotient, light in weight, affordable and apt for today’s modern woman. Mia has over 100 designs priced at Rs 5,999 onwards and the collection is available across the 130 Tanishq outlets in over 76 towns. The objective is to take jewellery wearing occasions beyond weddings and special events.
Kulhalli ,vice president (retail, marketing and merchandise) believes targeting the five million working women is enough opportunity as increasing aspiration levels and the number of women entering the workforce will drive spending. The new sub-brand will also help open up a new consumer age group, in a jewellery market where bulk of the sales is in the 30-60 age group. DESIGN PHILOSOPHY Mia Tanishq is a stunning range of fine, urban-chic, affordable jewellery starting at Rs. 999 exclusively crafted for Working Women to ensure that you’re appreciated in your work place and makes you enjoy your work life like never before. Based on 2 design directions, Quest (no beginning and no end – Infinity) and Blossom (Born to Blossom – Born to Shine – Floral), this collection is truly a winner at work. Truly capturing the essence of the urban, independent working women, Mia is inspired by the individuality of each one of you and truly projects power, confidence and taste.
SWOT ANALYSIS Strengths 1. It has a young and modern approach and designs are urban chic. 2. Affordable price ranges are starting from 5999 3. Advertising strategy is strong and convinces the audience. 4. Market expansion is good, available at various outlets Weakness 1. Strong competitors 2. Gold Perception – Since gold is usually considered as an investment and the gold prices are volatile. 3. Gold buying is mainly considered a ritual for occasions like wedding and other important functions .
Opportunities’ 1. Target audience is the working class woman in India, around 5 million woman are working in India in Tier 1 and Tier 2 cities so it is a great opportunity. 2. With Globalization, lot of opportunities in the international market. 3. It is a sub brand of Tanishq the leading jwellery makers , and has good market share in Indian jwellery industry. Threats. 1. Tough competition with other jwellery brands. 2. Local jwellery shops 3. Government regulations 4. Significance on Gold.