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Jewellery Industry In
India
In 2012 jewellery category grows 19% in current value terms to reach Rs1,750 billion
South India as a jewellery hub of India supports growth of jewellery category
Costume jewellery most dynamic in 2012, rising 25% in current value terms to reach Rs 65.7 billion
Jewellery category remains fragmented and largely dominated by local and regional players
Overall sales led by Tanishq from Titan Industries Ltd with 3% value share in 2011
Constant value sales projected to see 13% constant value CAGR over forecast period
In 2012 costume jewellery grew by 25% in value terms to reach Rs65.7 billion.
Macro Environment
Branded jewellery is <10% of the market. Urban Market - 38% of this base. Product Mix: Largely plane 22 karat with gem set
jewellery constituting less than 10% of the market Key players: Fragmented market, mainly retailer driven. Most retailers are unorganized Absence of hallmarking Tanishq is the first branded jewellery player Increased investment by industry bodies (DTC, PGI,
WGC) is spurring rapid growth of branded jewellery market in India
Introduction
Tanishq is India's largest, most desirable and fastest growing jewelry brand in India.
Started in 1995, Tanishq is the jewelry business group of Titan Industries Ltd - promoted by the TAT group.
Tanishq has set up production and sourcing bases with through research of the jewelry crafts of India.
Located at Hosur, Tamil Nadu, the 1,35,000 sq. ft. factory is equipped with the latest and most modern machinery and equipment.
Tanishq also introduced professional retailing in the un-organized Indian jewelry bazaar
Tanishq has successfully taken on the challenge of transforming this frontier into a reliable consumer space by bringing to it all the virtues and benefits that branding offers
Primary Competitors Gitanjali Gems
Reliance Jewels
Mehrasons Jewellers (Delhi)
Tribhuvandas Bhimji Zaveri (Mumbai)
B.C. Sen and P.C.Chandra (Kolkata)
G.R.Thanga Maligai (Chennai)
C. Krishnaiah Chetty (Bangalore)
Laxmi Dia Jewel Pvt Ltd (Surat)
Rajesh Exports Ltd (Bangalore)
Swarnmandir Jewel Designer (Karnataka)
Generic Business
Level Strategy
•Design and retail innovation have been the hallmark of Tanishq all these years.
•First and only jeweler who guarantees the purity of its gold jewellery and certifies the quality of its diamonds and colored gems in writing.
PROMISE OF PURITY AND A
UNIQUE EXPERIENCE
• It has established itself as a highly ethical player in a market that was rated as having the highest incidence of under karatage (Bureau of Indian Standards).
•They even have gold meters where one can check the purity of gold.
Trust
• Tanishq also has been positioned as a branded jewellery of luxury rather than commodity. It moves jewellery beyond investment to the fashion and adornment sector.
Luxury
Superior Product
In order to compete with the regional players, Tanishq introduced the concept of “consistency in delivering promise”.
Brand Identity
STP
Segmentation GEOGRAPHIC SEGMENTATION:
– Tanishq has 121 stores across 76 cities (metropolitan and cosmopolitan, small cities and big towns in India) and still expanding.
– Example: Mumbai, Delhi, Kolkata, Chennai, Bangalore, Hyderabad, Pune, Cochin, Calicut, Coimbatore, Nagpur, Chandigarh, Dispur, Lucknow, Jalndhar, Nagpur, Nasik etc.
DEMOGRAPHIC SEGMENTATION:– SEC: Upper – middle class to Lower – Upper class women.– Age group: 21 – 55 married women
BEHAVIORAL SEGMENTATION:– Consumers, who understands uniqueness, sophistication,
elegance and class. PSYCHOGRAPHIC SEGMENTATION
– Life Style: Tanishq has found that 40% of the Indian women are working and they targeted this segment with a specific group of products called collection-G, a 9-to-5 jewellery for the working women.
Women living in metropolitan and cosmopolitan cities, big towns etc.
Upper middle class and above Age bracket:
20 – 30 year old newly married 31 – 40 year old married with children 41 – 55 year old with daughters of
marriageable age.
Targeting
Positioning•Design and
retail innovation have been the hallmark of Tanishq all these years.
•First and only jeweler who guarantees the purity of its gold jewellery and certifies the quality of its diamonds and colored gems in writing.
PROMISE OF PURITY AND A
UNIQUE EXPERIENCE
•It has established itself as a highly ethical player in a market that was rated as having the highest incidence of under karatage (Bureau of Indian Standards).
•They even have gold meters where one can check the purity of gold.
Trust
•Tanishq also has been positioned as a branded jewellery of luxury rather than commodity. It moves jewellery beyond investment to the fashion and adornment sector.
Luxury
•Tanishq is known for its ability to develop specialized design collections.
•It is the only jeweler that houses a full-fledged design studio with a team of several international award winning Indian designers.
Superior Product
SwotAnalysis
WeaknessFluctuating gold pricesMarket share of less than
1% owing to high competitive intensity
Lower marginsLimited Global Presence
OpportunitiesCustomized jewelry
designTapping global marketsTie up with corporate
and business partners
ThreatsCompetition from large
unorganized sector as well as local players
Fashion trend keeps changing
Investors have stopped investing in gold as a hedge against inflation
Strengths One of the most trusted
jewelry brands in India Titan Industries of the Tata
Group Excellent branding and
advertising Offers simplistic and low-
priced jewelry for daily wear
7p’s of Tanishq
Product
• Tanishq Diamond• Tanishq Gold• Tanishq Platinum
Based on Tangibility
• Tanishq wedding collection• Moham• Fashion• Colors of royalty
Based on Experience/Occasion
DESIGN: Tanishq is known for its ability to develop
specialized design collections. Each piece of jewellery is designed by a team
of award winning designers Designed to suit all forms of attire, western
and Indian, casual and formal. ARIA, for seven stone diamond jewellery
Hoopla, focused on diamond studded hoops
Collection-G for lower priced gold jewellery
BRAND NAME: Brand name ensures innovation. Considered equivalent to purity and tradition.
Product
PriceTanishq range of products
start at an accessible low of Rs.
600 and the range - Solo, Aria, Diva,
Hoopla, Lightweights, Bandhan
and the most recent,
Colours - comprises wearable everyday jewellery which has
been designed for
the urban working woman.
Very large collections of pendants, earrings and fingerings in this price range Rs 2000-5000
The Tanishq Valentine’s Day collection includes pendants, earrings and
finger rings starting from Rs. 2,000 onwards.
The 'up to 25 per cent' off offer by Tanishq is a
unique opportunity.
This attractive offer has
been introduced to benefit
the customers
and provide them with the best price and product options
Mass Market Pricing
Price
High-value
diamond range (with retail
price of Rs 2 lakh
and above)
Zoya, Tanishq’s high-end brand that primarily retails
diamond jewellery, is showing a slow build-up. It currently has two stores (in Mumbai and Delhi) with a
range of 20-25 Lakh.
Kundan and Polki range starts from Rs 5 lakh
onwards.
Tanishq’s “Paheli” range
starts at Rs.80000 and “Jodha Akbar”
range at Rs. 1 Lakh.
High End Pricing
Tanishq opened 30 retail stores during FY08, taking the tally to 130 stores. Currently, the average store-size for Tanishq is 1,000-1,500 sq ft.
Tanishq retail identity has evolved over the years to offer large format and concept stores that reflect the brand’s philosophy of being “Revitalizer of Tradition”.
It has opened two pilot stores at Chicago and New Jersey with a retail format of 1,800-2,000 sq ft.
The Tanishq retail chain currently includes 112 exclusive boutiques in 75 cities, making it India's first and largest jewellery retail chain.
Place
Two promotion strategies opted by Tanishq: Cultivate trust by educating customers
about the unethical practices in the business
Change the perception of jewellery as a high-priced purchase.
Brand Ambassadors Shridevi Amitabh Bachchan Jaya Bachchan Asin Deepika Padukone Diya Mirza Karishma Kapoor
Advertising&
Promotion
Product PlacementsPaheli Jodha Akbar
CollectionRace 2
Print Ads Festive ads
Print Ads
MagazinesThe April 2011 issues of Grihshobha and Woman's Era saw what is said to be “the largest ever collaborative cover in magazine publishing in India”. A promotion for Tanishq Jewellery, the SuperWrap Cover was spread across eight A4 sides and folds around the main magazine multiple times.
Print Ads – “Diamonds of Class” Campaign
The whole idea behind the campaign was to show a woman of grace and poise...a bold, graceful, charming, dazzling woman with unique tastes and personal style, ultimately showcasing Tanishq diamonds which compliment her exotic life and adventurous spirit.
“My Expression” - Digital Campaign for Mia
On 26 December 2011, Tanishq launched an online contest inviting consumers to submit ideas for sub-brand Mia (launched in November 2011) - a new line of jewellery for young working women
Tanishq focused on initiating an online activity mainly through social media, targeting the younger audience group.
"We wanted to get inputs from them on what kind of designs would appeal to their age group. We wanted to see how they
interpret design and utility of jewellery, and then create a line of jewellery that would appeal to this section of the market,“ - Sirish
Chandrashekhar
Through a crowd sourcing campaign called 'My Expression', Tanishq chose 10 finalists who have gone on to co-create the Mia collection along with Tanishq's design team.
‘My Expression' received more than 3200 entries, and these attracted 40,000 people to vote online.
• Tanishq initiated a loyalty program called the Golden Harvest Savings Scheme, which offers buyers the benefit of getting more jewellery than what they have paid for. The scheme allows consumers to plan future purchases in advance and pay for them in easy installments.
• In 1998, it launched the corporate gold gift scheme - 'When you want to say thank you, say it in gold‘.
• To tap the Southern Market:
– They have been engaging in press advertising and social programs in order to engage culturally with the Tamil community.
– They are also planning to make a Tamil film. The consumer in that market still considers Tanishq an outsider as opposed to their local jeweller. But they want them to see Tanishq as their family jewellers now.
Other Promotional
Activities
People
Designers & Management trainees
from premiere institutes
Performance /Competency linked career growth Path at
management and manufacturing level
Karigar Park•Karigars work exclusively for
Tanishq•Provides tools & raw materials•Better hygiene and medical
facilities
Physical Evidence
Experience• Showcasing• Surround effect• Speaking
effectively• Zoya: stores for
differential premium segment
Heritage• Architecture
inspired by heritage
• Revitalizing traditional Indian Jewellary
Trust• They even
have gold meters where one can check the purity of gold.
Brand Architecture
Types Of Jewellery Available
MIA:Beautiful jewellery for working ladies
BLUSH:To celebrate the a light & youthful combination of feminity, filigree and fine worksmanhip
The Taj Collection One feels like a Princess with this beautiful and exquisite range of Jewellery.
Rhythmic Flow Designs:Right from her birth in gangotri to her eventual departure, ganga is full of emotion. As she journeys down the icy slopes of the Himalayas, her initial calm gives way to an elegant flair
CELESTE:Solitaire
Diamonds
ARIA:Floral
NeckpieceIVA:
Bracelet
DIVINE CHANT:FaithFul
Its not just any wedding. It's yours. The special time in your life when all eyes are on you, so look the best you ever will in undoubtedly irresistible Tanishq jewellery that honours the specialness of every mood, ceremony and community in gold, diamonds, kundan, polki & precious stones.
Wedding Collections
Wedding Collections
Adorn Yourself with traditional designs
Capturing the essence of sacred rituals that honor
the pledge of your journey forward.
Thank You
Designed By
12 - Shivani Desai26 - Ruchita Khandelwal39 - Varun Punjabi43 - Karishma Savani47 - Niraj Sheth57 - Dimple Virani
References
• Source: Euromonitor• http://www.slideshare.net/Rose1601/bic-tanis
hq?from_search=5• http://www.slideshare.net/kadavadkar/copy-o
f-tanishq-presentation?from_search=8• http://www.slideshare.net/Amritaksha/market
-review-for-tanishq-presentation?from_search=12
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