Tanishq, the leading branded jewellery maker in the country, has planned to foray in the US and southeast Asian marts while expecting a 25-30 per cent growth in turnover during 2004-5. "We are looking for new export markets like the US in the western front. We also have plans to penetrate some emerging markets in the southeast Asia," Ruchira Puri, head (marketing), Tanishq, told PTI here. The Tata Group company, which has presence in Singapore and Dubai, would export its products in the new markets under its own brand name Tanishq, she said. 

With a thrust on export and retail sales in domestic market, the company was eyeing a growth rate of about 25-30 per cent in its sales turnover during the current fiscal. "Our total sales last year was about Rs 540 crore. We have clocked about 30 per cent annual growth during last three years. This year, we expect to register a growth of about 25-30 per cent," Puri said. 

About the domestic market, she said the company had an expansion plan to increase its retail chain network, which currently comprised 69 exclusive boutiques in 54 cities – making it the first and largest jewellery retail store chain in the country. In the domestic market, the retail sales contributed Rs 415 crore in Tanishq's total turnover last year with the rest coming from institutional buying and exports. 

Having a 60 per cent market share in the Rs 800-crore branded jewellery market in India, the company was looking at expanding its retail chain to further tap the domestic market, which was dominated by unbranded, local jewellers. "The total jewellery market size in India will be about Rs 40,000 crore, but the branded jewellers have a sales of about Rs 700-800 crore only," Puri said. 

Tanishq, which offered gold and gem-set jewellery in 22 and 18 carat gold in over 6,000 traditional, western and fusion looks, was also planning to expand its portfolio of designs. Puri said there was, however, no plan to increase the production capacity at its fully integrated manufacturing plant at Hosur in the near future.