Tanishq

2021-11-23T05:10:48Z

49.205.82.0:

{{short description|Indian jewelry company}}
{{Use dmy dates|date=July 2020}}
{{Use Indian English|date=July 2020}}
{{Infobox company
| name = Tanishq jewellery
| logo = Tanishq Logo.svg
| logo_size = 200px
| type = Subsidiary
| parent = [[Titan Company]]
| foundation = 1994
| location = [[Bangalore]], [[Karnataka]], [[India]]
| area_served = Worldwide
| key_people =
| industry = [[Jewellery|Jewellers]]
| homepage = {{URL|www.tanishq.co.in}}
}}

'''Tanishq''' is an Indian [[jewellery]] brand and a division of [[Titan Company]].<ref name="Titan Company Limited">{{cite web|url=https://www.zaubacorp.com/company/TITAN-COMPANY-LIMITED/L74999TZ1984PLC001456|title=TITAN COMPANY LIMITED - Company, directors and contact details - Zauba Corp|website=Zaubacorp.com|access-date=18 July 2018}}</ref> Founded in 1994,<ref>{{cite news |title=Tanishq plans to merge with Titan Industries |url=https://economictimes.indiatimes.com/industry/cons-products/fashion-/-cosmetics-/-jewellery/tanishq-plans-to-merge-with-titan-industries/articleshow/7622555.cms |access-date=17 February 2021 |work=The Economic Times}}</ref> Tanishq is headquartered in [[Bangalore]], [[Karnataka]], [[India]].<ref>{{cite web|url=https://www.tanishq.co.in/|title=Welcome to Tanishq|website=Tanishq|access-date=18 July 2018}}</ref>

== History ==

By the end of the 1980s, the Titan company launched Tanishq. In the early 1990s, India's exchange issue was fixed, and the Titan Company chose to focus the brand on the Indian market. The first production plant launched in August 1992, and Tanishq's first store opened in 1996. Tanishq was the first jewellery retail brand in India.<ref name="rediff 04tan">{{cite web|url=http://www.rediff.com/money/2003/jul/04tan.htm|title=How Tanishq turned around|website=Rediff.com|date=4 July 2003|author=Priya Ganapati|access-date=13 August 2018}}</ref>

The first years of Tanishq recorded consistent losses. In 2000, Managing Director [[Xerxes Desai]] chose Bhaskar Bhat to succeed him. Starting in 2000, its net worth started to grow, and by 2003, Tanishq was among the top 5 retailers in India, and made up 40% of the Titan group's revenue.<ref name="rediff 04tan"/>

In the early 2000s, Tanishq opened stores internationally, in the Middle East and in the United States ([[Chicago]] and [[New Jersey]]), but closed them before the end of the decade.<ref name="timesofindia 33520320">{{cite web|url=https://timesofindia.indiatimes.com/business/india-business/Tanishq-to-begin-exports-to-UAE/articleshow/33520320.cms|title=Tanishq to begin exports to UAE|website=Timesofindia.com|date=10 April 2014|access-date=13 August 2018}}</ref>

[[File:Tanishq Showroom at Balmatta road in Mangalore.jpg|thumb|A Tanishq showroom in [[Mangalore]].]]

Tanishq made the beauty pageant crowns for the [[Femina Miss India]] 2007.<ref>{{cite web|url=http://www.idexonline.com/FullArticle?id=27242|title=Tanishq Unveils Miss India 2007 Crowns|website=Idexonline.com|date=21 March 2007|access-date=13 August 2018}}</ref> By 2008, Tanishq had 105 stores in 71 cities in India.<ref>{{cite web|url=http://www.rediff.com/money/2008/may/15gold.htm|title=Check gold purity with carat meter and be safe|website=Rediff.com|date=15 May 2008|access-date=13 August 2018}}</ref> In 2011, the Tanishq group launched the sub-brand called Mia for working women.<ref>{{cite web|url=https://www.dailypioneer.com/business/tanishqs-mia-brand--eyes-rs-1k-cr-turnover.html|title=Tanishq's Mia brand eyes 1K-CR turnover|website=Dailypioneer.com|date=4 June 2018|access-date=13 August 2018}}</ref> In November 2012, Tanishq reached a landmark when it opened its 150th showroom in India<ref>{{cite web|url=http://www.dailypioneer.com/state-editions/ranchi/107558-tanishq-opens-its-second-exclusive-showroom-in-ranchi.html|title=The Pioneer|website=Dailypioneer.com|access-date=18 July 2018}}</ref>

In April 2014, the brand started to export to the [[United Arab Emirates]].<ref name="timesofindia 33520320"/> In July 2014, Tanishq announced it ceased its gold deposit schemes to comply with the [[Companies Act 2013]], schemes that enabled its clients to save up to buy gold,<ref>{{cite web|url=https://www.business-standard.com/article/companies/tanishq-pulls-the-plug-on-gold-deposit-schemes-114071200588_1.html|title=Tanishq pulls the plug on gold deposit schemes|website=Business-standard.com|date=12 July 2014|access-date=13 August 2018}}</ref> but launched it back just a few months later in a format that complied with the new laws.<ref>{{cite web|url=https://www.thehindubusinessline.com/companies/tanishq-relaunches-gold-deposit-scheme/article20917753.ece1|title=Tanishq relaunches gold deposit scheme|website=Thehindubusinessonline.com|date=23 November 2014|access-date=13 August 2018}}</ref>

By June 2014, Tanishq had 167 retail stores nationwide, and announced the opening of 30 more by the end of 2015.<ref>{{cite web|url=https://www.thehindubusinessline.com/companies/tanishq-to-open-30-retail-stores-across-india-in-fy-15/article23169828.ece|title=Tanishq to open 30 retail stores across India in FY 15|website=Thehindubusiness.com|date=3 June 2014|access-date=13 August 2018}}</ref>

In 2017, Tanishq launched a sub-brand called Rivaah targeting the wedding segment.<ref>{{cite web|url=https://www.livemint.com/Companies/marKIDtiEtaQfhbIaQ5ihJ/Titan-targets40000-crore-from-jewellery-business-by-FY23.html|title=Titan targets₹40,000 crore from jewellery business by FY23|website=Livemint.com|date=23 July 2018|author=Deepti Govind|access-date=13 August 2018}}</ref> In January 2017, the Titan group merged its ''Gold Plus'' stores with the larger Tanishq retail brand.<ref>{{cite web|url=https://www.livemint.com/Companies/yUS5MIeFm7B6U78LeQB13M/Titan-merges-Gold-Plus-brand-with-Tanishq.html|title=Titan merges Gold Plus brand with Tanishq|website=Livemint.com|date=16 January 2017|author=Deepti Govind|access-date=13 August 2018}}</ref> In April 2017, Tanishq launched the sub-brand Mirayah to cater to women under their 40s.<ref>{{cite web|url=http://www.adageindia.in/marketing/cmo-strategy/tanishq-targets-women-in-40s-with-mirayah-launches-campaign/articleshow/58018397.cms|title=Tanishq Targets 'Women in 40s' With Mirayah, Launches Campaign|website=Adageindia.in|date=5 April 2017|author=Devesh Gupta|access-date=13 August 2018}}</ref> In December 2017, Tanishq launched the Aveer line, its first line of products for men.<ref>{{cite web|url=https://www.deccanchronicle.com/lifestyle/fashion-and-beauty/191217/tanishq-enters-mens-fashion-with-new-jewellery-line-aveer.html|title=Tanishq enters men's fashion with new jewellery line Aveer|website=Deccanchronicle.com|date=19 December 2017|access-date=13 August 2018}}</ref>

== Activities ==

Tanishq is a brand of jewellery [[Retail|retail stores]] in India. The brand is the property of [[Titan Company]], which is back by [[Tata Group]] and [[Tamil Nadu Industrial Development Corporation|TIDCO]].{{fact|date=July 2020}}

The name Tanishq was chosen by Titan's first managing director [[Xerxes Desai]].<ref name="goodreturns jwl10">{{cite web|url=https://www.goodreturns.in/tanishq-jewellery-jwl10.html|title=Tanishq Jewellery|website=Goodreturns.com|access-date=13 August 2018}}</ref> The name was formed by combining the first two letters from Tata and ''निष्क'' "NIṢKA" (meaning gold coin or necklace in [[Sanskrit]]), although the ''क'' k has been modified into a ''क़'' q.<ref>{{cite web
| last = WIPO
| first = Arbitration and Mediation Center
| author-link = World_Intellectual_Property_Organization
| title = Titan Company Limited v. Tanishq Corporation
| work = Case No. D2000-1793
| url = http://www.wipo.int/amc/en/domains/decisions/html/2000/d2000-1793.html
| access-date = 2006-09-26}} {{Citation needed|date=May 2013}}.</ref> According to another sources, the name is formed with the two words ''Tan'' (body) and ''Nishk'' (gold ornament) in the Sanskrit language, a name synonymous to superior craftsmen or absolute design.<ref name="goodreturns jwl10"/> In October 2020, Tanishq was at the centre of a controversial commercial that sparked backlash on social media over the depiction of Hindu and Muslim community in matrimonial setting. After heavy negative reactions on social media, the company withdrew the ad. NDTV reported that there was mob attack at Tanishq showroom in Kutch district however, it was rejected as false claim by Gujarat police.<ref>{{cite web|title=Gujarat police dismiss claims of mob attack on Tanishq store|url=https://www.businesstoday.in/current/economy-politics/tanishq-store-attacked-in-gujarats-gandhidham-hindu-muslim-ad-controversy/story/418860.html|access-date=2020-10-24|website=www.businesstoday.in}}</ref> In a press release the company expressed they had withdraw the ad as it hurt the sentiments of the Hindu community and safety concerns of their employees and stake holders.<ref>{{cite web|last=Tewari|first=Saumya|date=2020-10-13|title=Tanishq says ad withdrawn due to hurt sentiments, well being of staff|url=https://www.livemint.com/companies/news/tanishq-withdraws-ad-after-being-trolled-for-glorifying-love-jihad-11602566557985.html|access-date=2020-10-24|website=mint|language=en}}</ref>
Another controversy was filed on 9th Nov when the company stopped its ad of celebrating Diwali without crackers.

==References==
{{Reflist}}

==External links==
* [https://www.tanishq.co.in/ Official website]

{{Tata Group}}
{{authority control}}

[[Category:Design companies established in 1994]]
[[Category:Luxury brands]]
[[Category:Companies based in Bangalore]]
[[Category:Indian jewellery designers]]
[[Category:Indian brands]]
[[Category:Jewellery retailers of India]]
[[Category:Jewellery companies of India]]
[[Category:Titan Company]]
[[Category:1984 establishments in Karnataka]]

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