Tanishq Business Model: How Does Tanishq Make Money?

Tanishq, the parent company of Titan Industries, is a subsidiary brand. This Indian jewellery brand connects to the retail and lifestyle sectors and focuses on creating stylish accessories. Tanishq was founded in 1994 and focuses on both modern and traditional styles today.

History

To boost its foreign exchange reserves, Titan introduced Tanishq toward the close of the 1980s, a business that was primarily focused on exporting to markets in Europe and America. After the exchange problem in India was addressed in the early 1990s, Titan Company moved the brand’s attention to the Indian market. Tanishq’s initial store opened in 1996 after a prototype factory was established in August 1992, and manufacturing started in 1994. The first jewelry store chain in India was called Tanishq.

Tanishq Company Details

Company Name	Tanishq
Origin Country	India
Founded	1994
Founder	Titan Company Limited
CEO	Ajoy Chawla
Headquarters	Bangalore, Karnataka, India
Industry	Jewelry, Retail
Key Offerings	Gold and Diamond Jewelry
Number of Stores	Over 300 (as of last update)
Official Website	www.tanishq.co.in

Business and Revenue Model for Tanishq

1. Customer Segments

Indian middle-class and upper-class consumers who respect purity, design, and trust are Tanishq’s main target market. Although the brand has found appeal across several age groups, its primary target audience is those aged 25 to 55, including working adults and stay-at-home parents. Tanishq has recently increased its global presence by focusing on non-resident Indians and overseas customers who value Indian designs and craftsmanship.

2. Value Proposition

The four foundations of Tanishq’s value proposition are as follows:

• Trust: Tanishq has made a name for itself as an icon of trust in an industry beset by worries about purity and quality by implementing stringent testing procedures and pledging to offer 100% purity.
• Variety in Design: Tanishq’s collections appeal to a broad spectrum of consumers by reflecting India’s many preferences and cultures.
• Quality Assurance: Tanishq guarantees that every jewelry item satisfies high standards by conducting thorough quality tests.
• Brand Equity: Tanishq’s value proposition is further enhanced by its affiliation with the Tata Group, which has established it as one of India’s most reputable business enterprises.

3. Channels

Tanishq uses both online and offline platforms to conduct business. Its retail locations, dispersed around India, offer a distinctive shopping experience where clients may view and purchase goods. The business has also invested in digital platforms, realizing that younger consumers are becoming increasingly inclined to shop online. It provides a smooth online shopping experience through its website and app.

4. Customer Relationships

Tanishq’s excellent after-sales assistance and customer care have helped the company establish enduring connections with its clients. The company is well-known for its “Karigars,” or craftspeople, who improve client connections by offering polishing, cleaning, and repairing services. Additionally, the business offers an Encircle loyalty program that incentivizes customers to purchase and promotes client retention.

5. Revenue Streams

Sales of jewelry made of platinum, diamonds, and gold make up the majority of Tanishq’s income sources. It also makes money through its “Gold Harvest” program, allowing users to purchase gold monthly.

6. Crucial Sources

The creative design teams of Tanishq, the Karigars who execute these ideas, and the company’s strong supply chain, which guarantees on-time delivery of raw materials and completed goods, are among its most valuable assets. Furthermore, Tanishq is an asset that lends legitimacy to the company’s products.

7. Key Activities

The main tasks performed by Tanishq are designing, creating, selling, and providing customer support for jewellery. To maintain its lead in the ever-evolving jewellery industry, the company also strongly emphasizes research and development.

8. Important Collaborations

Important alliances for Tanishq consist of its franchise partners, who oversee the retail locations, its suppliers of precious metals and stones, and its logistics partners, who guarantee prompt product delivery to consumers and retailers.

9. Cost Structure

The cost of raw materials, production costs, marketing expenditures, and operating costs like utilities, rent, and salaries make up most of Tanishq’s cost structure.

Conclusion

This esteemed company has established a strong name in a field that was formerly seen to be traditional and disorganized. Their dedication to upholding consumer confidence, providing a variety of designs, upholding exceptional quality, and capitalizing on their brand equity has allowed them to stand out in a fiercely competitive field. A solid and successful business model is also formed by their strategic collaborations, effective use of strong customer relationships, critical resources, smart routes for product distribution, and a well-monitored cost structure.