Tanishq's chief operating officer, jewellery, Mr Harish Bhat, told reporters here that the company is eyeing a turnover of about Rs 575 crore, up from Rs 425 crore last year.

Tanishq currently has a 70 per cent marketshare in the branded jewellery segment in India. Mr Bhat said that all the new stores will be franchisee owned and will come up in smaller towns since Tanishq already has a big presence in the major metropolitan cities in the country.