In its early days, Tanishq was positioned as an international jewellery brand for the Indian elite. This meant it catered to a niche market. Moreover, its Italian designs in 18-carat, mostly studded jewellery did not go down well with the traditional Indian woman, used as she was to 22-carat jewellery. Abandoning its westernised look, Tanishq’s designers chose to work on a fusion of contemporary and traditional Indian motifs.
The Tanishq portfolio comprises a wide range of jewellery, including 18-carat studded products, 22-carat plain-gold products, silverware and coins. Tanishq is the first brand in the jewellery category to introduce collections designed exclusively for the modern Indian woman, especially working women.
Among the Tanishq collections that have caught the imagination of consumers is Aria, which draws inspiration from the traditional seven-stone jewellery that Indian women have worn for over 100 years. Aria added a contemporary element to the traditional setting of the seven-stone cluster by using diamonds of different shapes and sizes. The use of rhodium plating alongside the yellow gold gives this product a unique look, modern as well as traditional.
Other winners from the Tanishq stable include Diva, which has pearls encircled by diamonds, Hoopla, which boasts diamond hoops, and Solo, a collection that uses solitaire diamonds. Collection G, with a selection of over 90 designs, addressed the everyday jewellery needs of working women. Positioned as ‘9-to-5 jewellery’, the collection is stylish and modern and is designed to suit all forms of attire, western and Indian,
casual and formal.
The introduction of lightweight gold – jewellery that looked heavy but was light in weight and on the purse – marked another milestone in Tanishq’s brand history.
Tanishq has veered away from the high-end French look that it started out with to jewellery that is design-differentiated and yet wearable. This shift in its design ethos has helped make the brand’s products more accessible to
Indian women. The Tanishq of today has little to do with conspicuous consumption and much to do with meeting the aspirations and emotional needs of consumers.
Tanishq’s retail boutiques are temples for the brand and are used as a platform for celebration, be it the launch of a new collection, a new marketing promotion or a festival. This gives Tanishq outlets a unique appeal and consumers an opportunity to heighten their shopping experience. The launch of new collections such as Dancing Diamonds, Ethnic Gold, Paisley, Dewdrops and Avataar has enabled Tanishq to establish itself as a frontrunner in the fashion jewellery scene.
One of Tanishq’s more innovative ideas is to offer special schemes during various festivals. Given India’s diversity, this is never a one-size-fits-all initiative; rather, it means having different promotions at different times of the year in different parts of the country. So, whether it is Varalakshmi Puja in Andhra Pradesh, Durga Puja in Bengal, Onam in Kerala or Karva Chauth in the North, the brand celebrates it with its consumers in the right cultural spirit.
Tanishq has deliberately moved away from mass-media advertising and focussed on store promotions to make the brand more accessible to consumers. This has been done to correct the consumer perception that the brand is highly priced and only meant for the rich and the famous. This approach has also ensured that Tanishq’s promotional approach is product-led.
Promotions are organised from time to time to ‘activate the market’. These events reinforce the image of Tanishq as a trusted leader. The ‘Impure to Pure Exchange’ offer is an example
of one such activation-based promotional campaign. Under this scheme, jewellery buyers could exchange their impure jewellery of any ‘caratage’ for Tanishq’s 22-carat jewellery. During the promotion it offered to value consumers’ old gold jewellery of 17-carat and above on Tanishq’s Karatmeters.
Between August 1st and August 15th 2001, Tanishq embarked on a promotion where discounts of up to 20% were offered on all its jewellery. This was to say thank you to a million consumers on the fifth anniversary of the brand’s launch.
Over 100,000 people shopped at Tanishq boutiques during this period.
Another consumer loyalty programme that has been initiated by Tanishq is 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 instalments.
Consumers can choose from two plans: a 12-month annual plan and an 18-month extended plan (the monthly installment can be for any amount upwards of Rs. 500). Tanishq contributes 60% of the last monthly instalment in the annual plan and 130% of the last monthly instalment in the extended plan, both of which are part of the final price that the consumer pays for the product.
In sync with the Tata brand values, Tanishq is synonymous with trust and purity in a category that is fraught with questionable practices. Being a member of the Tata family has meant that it can leverage the group’s well-earned reputation for ethics and values in a business where such attributes are critical to win the trust of consumers. Tanishq consumers can afford to take issues such as purity for granted, and they know they can depend upon the brand to deliver quality products all the time.
The brand’s winning virtues in design and overall quality have shaped a class of discerning buyers who seek the best in jewellery products.
Leadership and innovation are two of the other brand features that Tanishq is consistently identified with. These values have helped the brand bond with its consumers like no other Indian jewellery retailer.