|Subsidiary of Titan Company|
Tanishq (Hindi: तनिष्क़) is a jewellery brand of India. It is a division of Titan Company, a company promoted by the Tata Group in collaboration with the Tamil Nadu Industrial Development Corporation (TIDCO). Tanishq's headquarters is at Bengaluru (Bangalore) in Karnataka.
By the end of the 1980s, the Titan Company launched Tanishq in an attempt to earn its own foreign exchange, focused largely on exports. 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.
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 grown, and by 2003, Tanishq was among the top 5 retailers in India, and made up 40% of the Titan group's revenue.
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.
Tanishq made the beauty pageant crowns for the Femina Miss India 2007. By 2008, Tanishq had 105 stores in 71 cities in India. In 2011, the Tanishq group launched the sub-brand called Mia for working women. In November 2012, Tanishq reached a landmark when it opened its 150th showroom in India
In April 2014, the brand started to export to the United Arab Emirates. 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, but launched it back just a few months later in a format that complied with the new laws.
In 2017, Tanishq launched a sub-brand called Rivaah targeting the wedding segment. In January 2017, the Titan group merged its Gold Plus stores with the larger Tanishq retail brand. In April 2017, Tanishq launched the sub-brand Mirayah to cater to women under their 40's. In December 2017, Tanishq launched the Aveer line, its first line of products for men.
The name Tanishq was chosen by Titan's first managing director Xerxes Desai. The name was formed by combining the first two letters from Tata and नष्क "NISHK" (meaning gold coin or necklace in Sanskrit), although the क k has been modified into a क़ q. 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.
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