Tata Group, for a long time, was looking to extend the reach of its popular jewellery brand Tanishq, which has more than 400 outlets in India.
Since November 2020, it has broken into the overseas market – starting with a store in Dubai, followed by seven more in the United Arab Emirates, two in Qatar and two in the United States.
And on Nov 2, the first Tanishq store in Singapore opened at Centrium Square in Little India, with a 2,800 sq ft boutique offering more than 4,000 unique designs.
“Indians make up the largest diaspora community anywhere in the world. And, as the largest jewellery brand in India, Tanishq needs to be present around the world,” said Mr Kuruvilla Markose, CEO of Titan Company, which manages the brand’s international business.
“That’s what brought us to Singapore, the gateway to South-east Asia and the old Indo-China belt, and we believe the store in Serangoon Road will be the start of many more stores in the region.”
According to the US-based International Trade Association, watch and jewellery retailers in Singapore reported a 60 per cent increase in their sales last year, with the total revenue from luxury jewellery amounting to US$106 million ($144 million).
“The Singapore market will continue to grow,” said Mr Kuruvilla.
“North Indians in Singapore don’t always get what they are looking for.
“Our range is pan-Indian and more contemporary.”
Indians in Singapore fly to India to buy jewellery for weddings and other important events but Titan’s Aditya Singh, head of international business, jewellery, said it is better to shop in Singapore as “our pricing remains the same across all our markets”.
“There will be differences that are beyond our control but largely they are not big enough to justify flight costs.”
The Tanishq jewellery sold in Singapore is largely handcrafted. The store has an in-house craftsman who can advise on jewellery production and repair. There are also 16 other employees who can converse in 14 Indian languages.
This Deepavali, Tanishq is offering its latest Dharohar collection, which features intricately crafted gold jewellery adorned with colourful meenakari enamel work and unique uncut diamonds or polki, symbolising the timeless cultural values that are treasured and passed down as heirlooms.
V.K. Santosh Kumar
