• Festive collection: Tanishq launched Dhyanthara, a Diwali collection bringing together regional Indian craftsmanship, rare gemstones and detachable designs in 18 carat and 22 carat. It is approximately 50% 22 carat and 50% 18 carat; the company is also expanding lightweight and lower-carat offerings, saying 18 carat can deliver up to 30% more grams for the same rupee spent.
• Gold exchange: More than 50% of Tanishq store transactions now involve some form of exchange, with the share rising across regions. Narayan described exchange as beneficial to customers and the country because circulating household gold could help reduce reliance on imports.
• Volume outlook: With gold prices higher and household budgets largely unchanged, the category may decline in grammage terms, while good growth is expected in value terms. Narayan said store offers and Tanishq’s 10-month purchase plan provide ways for customers to buy.
• Diamond demand: Natural-diamond demand has grown rapidly over the past 10 months and, over the past 9 months, diamond growth has remained higher than gold growth. Narayan sees lab-grown and natural diamonds as having separate customer demand; diamond penetration in India is approximately 12 or 15%.
• Trust and transparency: Narayan attributed Tanishq’s brand to purity, transparency, customer service, product quality and design, citing the Karatmeter introduced in 1999 and a new Diamond Karatmeter in stores. Tanishq has approximately 550 stores in the country, approximately 11 in the US and 20 in the Middle East and Singapore combined.