Fine jewellery brand Tanishq, part of Indian Titan Company, has confirmed plans to open 18 new international stores by the end of the 2024 financial year, mostly focusing on the GCC region for its global brick-and-mortar expansion.
The brand intends to operate a total of 25 international locations by the end of the next year.
“The company aspires to further strengthen its international presence to 25 international stores by the end of FY 2023-24, with growth primarily being driven by additions in the GCC region,” said Titan in a statement, the Press Trust of India reported.
“Tanishq aims to become the preferred jeweller in the NRI/ PIO markets by leveraging the pride that Indians across the world take in their cultural heritage.”
As well as opening stores in the Gulf region, Tanishq also plans to open stores in the US. In the previous financial year, Tanishq increased its international store total from two to seven, ET Bureau reported.
The brand plans to press ahead with international expansion with an omnichannel approach.
To this end, Tanishq has launched two D2C e-commerce stores, one for the UAE and one for global shoppers.
In March, the retailer signed an MOU with Sharaf Group to expand operations in the UAE.
Titan Company’s jewellery division operates Tanishq as well as Zoya, Mia and CaratLane.
In the 2023 financial year, its jewellery sales accounted for around 88 per cent of the business’s total revenue.
