Bangalore: In keeping with Titan Industries’ plan of extending its portfolio beyond that of watches, its jewellery division Tanishq is planning a foray into women’s accessories. It is eyeing annual sales of at least Rs 10 crore from the same in a couple of years. The move is significant since Tanishq has always wanted to be associated with 22 carat gold alone, with its only other metal offering being platinum.

While Tanishq has quietly launched a silver jewellery brand for women called "FQ Retailed Only" in Shoppers’ Stop, Jacob Kurian, COO, Tanishq said that FQ will ultimately be a women’s accessories brand. Options like footwear, eyewear and bags are being considered for launch next year. Later, FQ may be sold in World of Titan showrooms as well.

FQ stand for fashion quotient and the line has been in the soft launch phase for two-and-a-half-months. The jewellery caters to young women who want a contemporary look at an affordable price (FQ’s prices range between Rs 199 and Rs 1,200). Interestingly, the funky packaging in soap boxes and cosmetic tubes, does not mention the mother brand in the title but carries a small baseline saying, ‘an eco-friendly product from Tanishq."

The company is clear it does not want FQ to dilute Tanishq’s brand equity and hence has decided not to retail it in its showroom. FQ itself was born out of many requests for Tanishq to be retailed in a general store but since that would impact the brand’s core value, it decided upon a different product altogether.

It is clear that Tanishq is only testing the waters for there has been no big-time advertising. It will take a year for FQ’s ads to break into the mass media. The marketing now is below-the-line, in colleges, music stores and pubs.