Just a few weeks ago, Titan had announced its excellent results for FY 2017-18, with a revenue increase of 20.5% on a standalone basis, to which its jewellery division had contributed handsomely, itself registering a growth of 24.3%.

Now, various reports in the business media talk about the future expansion plans of the jewellery division, under the Tanishq umbrella.

Business Standard reported that parent Company Titan plans to take its jewellery abroad through the franchisee model. By the end of 2019, Titan plans to open stores in selected markets, initially in Asia – though no specific countries have been named so far.

Bhaskar Bhat, Managing Director of Titan Company Limited is quoted by Business Standard as saying: "These (stores) will be launched on a partnership basis with an investment range of Rs 200-300 million per store, to begin with." 

Titan’s watches segment already has an international presence in Africa, West Asia and South East Asian countries. “Titan has also forayed into the United States through a partnership with Amazon last year and is looking to expand to Europe in the coming years via the e-commerce tie-up,” the Business Standard report said.

Titan is believed to have plans to grow the jewellery segment to Rs 400 billion in the next five years, from its current revenue of roughly Rs 130 billion reported for FY 2017-18.

Meanwhile, other reports state that Tanishq’s Mia brand is set for an aggressive roll-out across India and aims to reach a turnover of Rs. 10 billionin five to six years.

The first step towards this is a plan to open 25 new standalone stores for the brand by the end of FY 2018-19. Currently, the Mia brand is said to have 15 stores across the country. It also sells through e-commerce outlets like Amazon.  Recently, a Mia store was launched in Delhi.

Mia jewellery was lanched by Tanishq as a brand for working women. “The Mia Woman is thriving at work and has worked hard to get where she is,” says the Mia website. “She is confident, in control and chic. She knows who she is and what she wants to achieve. She's going places and she will get there in style. Contemporary workwear jewellery from Mia completes her professional look while expressing her individuality.”