NEW DELHI, Jan 4: Tata Group’s jewellery division, Tanishq, will open up to 25 standalone stores of its sub-brand ‘Mia’ by 2016 as it looks to grow turnover from the brand.
“While, Tanshiq will continue to sell Mia brand jewellery. Growth of business for Mia will come from standalone stores. We plan to open 20-15 standalone Mia stores by 2016,” Titan Company Senior Vice-President (Retail and Marketing) Jewellery Division, Sandeep Kulhalli told.
Tanishq, which launched Mia brand for working women in 2011, sells Mia jewellery range from its existing stores at present.
“After initial years of support from Tanishq, we see opportunity in growing Mia brand from standalone stores,” Kulhalli added.
The company plans to have 8-9 standalone Mia stores by the end of current financial year. All the new Mia stores will be franchised.
At present, there are three Mia stores in Mumbai, Bengaluru and Pune.
When asked about the turnover from Mia brand, Kulhalli said: “Revenue from Mia is growing 60 per cent year-on-year and it’s over Rs 100 crore.”
However, he did not disclose further details.
Tanishq is also in talks with online marketplace firms to sell Mia jewellery through e-commerce channels.
“We are in final stages of discussion to sell Mia brand through online channels,” he said.
Mia’s jewellery range, crafted in 14K gold, is priced between Rs 4,000 to Rs 25,000. (AGENCIES)
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