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Our Bureau

Hyderabad , Oct. 5

TANISHQ, the branded jewellery retailer, is expecting a 35-40 per cent growth this year riding on the increasing popularity of branded jewellery in the country.

The Chief Operating Officer of Tanishq, Mr C. K. Venkataraman, told Business Line that from being a market skewed towards custom-design, it is gradually but certainly shifting towards branded jewellery, where Tanishq is playing a leading role.

"Given the current market demand and growth pointers, we expect to grow the number of outlets from the present 75 stores to 125 in the next three years. Of this, 15 of them would be located this year itself. Out of the total estimated jewellery market of about Rs 60,000 crore, about Rs 1,200 crore to Rs 1,500 crore is accounted for by the branded jewellery market.

"However, this market for branded jewellery is expected to grow at about 40 per cent, opening up more opportunities for Tanishq," he said.

Mr Venkataraman, who was in Hyderabad to announce the opening up of Tanishq's fourth store in the twin cities, said that the company, which has about 20 select vendors, is also in the process of expanding the network of vendors across the country to enhance the range.

As a part of the company's drive to capitalise on the growing market for branded jewellery during the ensuing festive season, Mr Venkataraman said it has come up with a multi-media campaign that would bring the best of both from the past and present to the consumers.

"We expect to spend about Rs 8 crore on this campaign," he said.

Referring to the company's plans to tap some of the overseas markets, Mr Venkataraman said that its presence in West Asia and the Far East would be further strengthened and the entry into the US is being finalised.

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