Tanishq, known as India’s most-loved jewelry brand, today launched its first flagship store in the United States. The brand aims to meet the evolving needs of Indian Americans, who comprise 4.35 percent of the state’s total population and are 387,000 strong. The launch is a part of Tanishq’s retail business expansion strategy.
According to US Census Bureau, jewelry store sales were estimated at $33.2 billion in 2020, which was a 25% increase over the previous decade. Tanishq has been in the US market through e-commerce for over a year and has received positive community feedback.
“Tanishq already has a significant online presence in the US market. The high demand and interest shown by the Indian American community encouraged us to have an on-ground presence for them. This showroom will have our latest collections and masterpieces designed to suit all jewelry needs of the Indian Americans,” said, Kuruvilla Markose, CEO – International Business Division, Titan Company Limited
The 3750+ square foot, two-story showroom on New Jersey’s Oak Tree Road, Iselin, offers 6500+ unique designs in 18 and 22 KT gold and diamond jewelry, as well as solitaires and colored stones. The store displayed its most recent collections at the inaugural event, including Color me joy, a cocktail jewelry collection, Romance of polki, Rhythms of rain, Moods of earth, and Alekhya.
“We are on a mission to establish Tanishq as a global brand, and our retail showroom expansion in the United Statesis a significant step in that direction. Tanishq has been balancing the elegance of tradition with the brilliance of modernity for decades and we want to bring it to New Jersey,” said C K Venkataraman, Managing Director at Titan Company Limited, the parent company of Tanishq.
The company launched its first international brick-and-mortar store in Dubai in November 2020. It now has eight international stores, seven in the United Arab Emirates (U.A.E.) and the first in the United States of America. The company intends to collectively open 20-30 stores in North America and the Middle East over the next 2-3 years. While in India, Tanishq has a presence of 400+ stores across 240 cities and indents to add 100+ stores in the next year.
As recent as last year, we have seen Jewelry retailers focus on catering to specific geographic markets. In 2022, luxury retailer, De Beers, announced Kenyan-Mexican, Lupita Nyong‘o as its first Global Ambassador to appeal to the African market. Musician and song-writer Frank Ocean launched his own jewelry store, Homer located at 74 Bowery called to create streetwear inspired high quality pendents, rings and necklaces.
I have over 10 years of experience in the retail industry including expertise in marketing, operations, merchandising, buying, shopping and technology. I am a former senior managing director of The School of Retailing, University of Alberta. My education includes a Bachelor of Commerce Degree from The University of Alberta in Marketing, Certificate in Real Estate and a Diploma in Fashion Merchandising and Buying from LasSalle College, a Canadian private school founded in 1959 by fashion designer Jean-Paul Morin.