A Project Report On International Marketing Plan for Launching Of JEWELLERY In UAE FOR Tanishq

Submitted by

Nishant Jaluin partial fulfilment for the award of the degree of Post Graduate Basic Diploma in General Business Management (2010 12)from

Xcellon Institute School of Business, Ahmedabad

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ACKNOWLEDGEMENTI am extremely thankful to Prof. Jitendra Sharma for giving me the opportunity to undertake this project in International Marketing and for his overall support, valuable guidance, astute judgment, constructive criticism and an eye for perfection without which this project would not have been in its present shape.

Table of Contents

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1. Acknowledgements Part - A 1. Executive Summary

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2. UAE United Arab Amirates . 3. 4. 5. 6. 7. 8. Location . Physical Features Climate . History . Geography . Economic Condition . . . . . . . . . . . .

Part B 1. 2. 3. 4. 5. 6. Product Justification . . Company Profile . . Vision & Mission . . Product Line & The Collection. 4Ps of Marketing . SWOT Analysis . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24 26 31 32 39 46

Part C 1. Competitors . 2. Industry Analysis Part D 1. 2. 3. 4. 5. 4Ps of Tanishq for UAE International Entry Strategy Financial Plan . . Conclusion . . Bibliography . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 56 59 61 63 64 . . . . . . . . . . . . . . . . 48 52

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Part A International Country Analysis

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Executive summaryI have done my International Marketing Project for Tanishq. I was assigned the work of launching Tanishq in UAE especially for Indian Jewellery. I had to do the survey about the gold market in UAE. I was expected to gather information regarding usage of different brands of jewellery in UAE. By this survey company wanted to know the market situation and their competitors in this area for their brand Tanishq. I did a secondary survey. I had to understand the mentality of the local people and give some feedback about the product usage in the market. By this I come to know many things about the jewellery market as well as UAE. The location and the financial part which was the very tough for me to do the work. This was very hard to find the different location in the unknown country. Now by this project I know many things about the country. If Tanishq wants to enter in the market of UAE then they have to come up with several innovative schemes. For example they have to launch their product during the Dubai Shopping Festival. This would be the best time for launching the product because persons from different countries come to UAE for the shopping. The best part is during this time the shopping is tax free so it is much cheaper than the routine shopping.

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UAE United Arab AmiratesProfile UAE:The United Arab Emirates is a constitutional federation of seven emirates; Abu Dhabi, Dubai, Sharjah, Ajman, Umm al-Qaiwain, Ras al-Khaimah and Fujairah. The federation was formally established on 2 December 1971. The United Arab Emirates (UAE) occupies an area of 83,600 sq km along the southeastern tip of the Arabian Peninsula. Qatar lies to the west, Saudi Arabia to the south and west, and Oman to the north and east. The capital and the largest city of the federation, Abu Dhabi, is located in the emirate of the same name. Four-fifths of the UAE is desert, yet it is a country of contrasting landscapes, from aweinspiring dunes to rich oases, precipitous rocky mountains to fertile plains. The United Arab Emirates, one of the world's fastest growing tourist destinations, has all the right ingredients for an unforgettable holiday, sun, sand, sea, sports, unbeatable shopping, top-class hotels and restaurants, an intriguing traditional culture, and a safe and welcoming environment. About United Arab Emirates The United Arab Emirates (UAE) is a federation of seven emirates that was formed in December 2, 1971. Conventional Long Form: United Arab Emirates Local Long Form (Arabic): Dawlat Al Imarat Al Arabiyya Al Muttahidah Local Short Form (Arabic): Al Imarat Abbreviation: UAE Arabic Words: Abu Dhabi, Dubai, Sharjah, Ajman, Umm al-Qaiwain, Ras al-Khaimah and Fujairah Abu Dhabi

Country Name

Emirates Capital

National Day Independence Day (from UK), 2 December (1971) President VicePresident & Prime Minister Political System HH Sheikh Khalifa bin Zayed Al Nahyan

HH Sheikh Mohammed bin Rashid Al Maktoum

A federation with specific areas of authority constitutionally assigned to the UAE Federal Government and other powers6|Page

reserved for member emirates Constitution Area Time Daylight Saving Time Adopted provisionally on 2 December 1971, made permanent in 1996 83,600 square kilometres UAE Standard Time is 4 hours ahead of Greenwich Mean Time (GMT+4) UAE Time does not operate Daylight-Saving Time

International +971 Dialing Code Currency Exchange Rate Language Religion Population GDP Real GDP Growth Emirati Dirham (Dh or AED), divided into 100 Fils US$ 1 = AED 3.6725 The UAE Dirham has been officially pegged to the US dollar since February 2002 The official language is Arabic. English is widely understood and ranks alongside Arabic as the language of commerce Islam. Practice of all religious beliefs is allowed 4.106 million AED 485.5 billion 8.2%

Non-Oil Sector Contribution 64% to Nominal GDP Foreign Direct Investment Industries Oil Production Oil Proven US$10 billion Oil & Gas, Aluminum, Cement, Fertilizers, Commercial Ship Repair, Petrochemicals, Construction Materials, Pharmaceuticals, Tourism 2.8 million barrels per day 98.1 billion barrels

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Reserves Natural Gas Production Natural Gas Proven Reserves Fiscal Year Weekend Exports Free-Zone Exports Re-Exports Imports Cultivated Areas Number of Date Palms Agriculture & Fisheries Products Estimated Fisheries Catch 65 billion cubic meters

6 trillion cubic meters 1 January to 31 December Friday and Saturday for government institutions. Many private companies operate a six-day week (with Friday as an off day) AED 424 billion AED 63.9 billion AED 139.5 billion AED 261.2 billion 260,000 hectares, 3.1% of total territory Over 40 million Dates, Green Fodder, Vegetables and Fruit; Livestock, Poultry, Eggs, Dairy Products; Fish

97,574 tons Three equal horizontal bands of green (top), white, and black with a wider vertical red band on the hoist side

Flag

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The CountryLocationUnited Arab Emirates occupies a total area of about 83,600 square kilometers (32,400 square miles), along the south-eastern tip of the Arabian Peninsula between 2250 and 26N and between 51 and 5625 E. Qatar lies to the west and north-west, Saudi Arabia to the west and south and Oman to the north, east and south-east.

Physical FeaturesDespite the fact that four-fifths of its land area is arid desert, the UAE is a country of contrasting landscapes. The UAE has 734 Km of coastline, 644 Km along the Arabian Gulf and 90 Km bordering the Gulf of Oman. Along the Arabian Gulf coast are offshore islands, coral reefs and salt marshes, whilst stretches of gravel plain and barren desert characterize the inland region. The western interior of the federation, most of which is Abu Dhabi territory, consists mainly of desert interspersed with oases. One of the largest oases is Liwa, beyond which is the vast Rub al-Khali desert, or Empty Quarter, which stretches beyond the UAEs southern border. To the east lie the Hajar Mountains chain which reach north into the Musandam peninsula at the mouth of the Arabian Gulf. The rocky slopes rise to 1300 meters within UAE territory, falling steeply to the UAEs East Coast on the Gulf of Oman where a fertile alluvial gravel plain separates the precipitous mountains from the ocean. To the northeast, a fertile gravel plain also separates the mountains from the coast around Ras alKhaimah.9|Page

ClimateThe UAE lies in the arid tropical zone extending across Asia and North Africa. Climatic conditions in the area are strongly influenced by the Indian Ocean, since the country borders both the Arabian Gulf and the Gulf of Oman. This explains why high temperatures in summer are always accompanied by high humidity along the coast. There are noticeable variations in climate between the coastal regions, the deserts of the interior, and mountainous areas. From November to March daytime temperatures average a very pleasant 24 C (75 F). Night-time temperatures are slightly cooler, averaging 13 C (56 F) and less than 5 C (40 F) in the depths of the desert or high in the mountains. Summer temperatures are high, and can be as high as 48 C (118 F) inland, but it is lower by few degrees in coastal. Humidity in coastal areas averages between 50 and 60 per cent, touching over 90 per cent in summer and autumn. Inland it is far less humid. Local north-westerly winds (shamal) frequently develop during the winter, bringing cooler windy conditions. Prevailing winds, which are influenced by the monsoons, vary between south or south-east, to west or north to north-west, depending upon the season and location. Average rainfall is low at less than 6.5 centimetres annually, more than half of which falls in December and January. Water temperatures in the Gulf exceed 33C in summer, falling in winter to 16C in the north and 2224C in the south.

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HistoryOne of the world's most admired young countries, the United Arab Emirates is an example of how dreams of modernity and advancement can translate into reality. In just 34 years, the UAE, a federation of seven emirates, has transformed itself from a barren desert to a green garden of unparalleled prosperity. 1970 Case of the three islands Iran lays claim to the islands of Greater and Lesser Tunbs and Abu Mousa. The following year, Iran occupies the three islands. Since then, the UAE has been repeatedly calling for a peaceful resolution or the use of international arbitration to resolve the issue. 1971 Iran occupation Iran occupies the islands of Greater and Lesser Tunbs and Abu Mousa. British evacuation Sheikh Zayed, representing the UAE, and Sir Geoffrey Arthur, the last British Political Agent in the Gulf, sign a treaty of friendship between Britain and the UAE. Formation of the UAE The newly-formed federation including the emirates of Abu Dhabi, Dubai, Sharjah, Ajman, Umm Al Quwain and Fujairah takes shape under the able leadership of Sheikh Zayed. The emirate of Ras Al Khaimah joins a year later. Each emirate is represented in the national assembly and the Ruler of each emirate is entitled to vote in the Supreme Council of Rulers. They also agree that the Federation's Constitution would be provisional for five years, after which it would be replaced by a permanent one Elected President Sheikh Zayed Bin Sultan Al Nahyan is elected President and Sheikh Rashid Bin Saeed Al Maktoum, Vice-President. The UAE is established as a federation based on achieving four main objectives: building an educated society; solving regional issues by peaceful means; strengthening ties between Arab countries ? politically, economically and culturally ? and finally, actively participating in international forums and organizations. Arab League UAE joins the Arab League. The Abu Dhabi National Consultative Council and the Cabinet are formed. Sheikh Zayed inaugurates the 50-member assembly's first meeting. 1972 Ruler His Highness Sheikh Sultan Bin Mohammad Al Qasimi becomes Ruler of Sharjah.

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1973 Council created The Executive Council replaces the Abu Dhabi Cabinet. The Council comprises the Emirates' government departments. Merger of oil departments The UAE Cabinet approves the merger of the oil departments of Abu Dhabi, Dubai and Sharjah into a single UAE Petroleum Ministry.

1974 Ruler His Highness Sheikh Hamad Bin Mohammad Bin Hamad Al Sharqi becomes Ruler of Fujairah Foreign aid Sheikh Zayed allocates 28 per cent of Abu Dhabi's income towards assisting Arab, Islamic and developing countries. 1981 Rulers His Highness Sheikh Rashid Bin Ahmad Al Mualla becomes Ruler of Umm Al Qaiwain. His Highness Sheikh Humaid Bin Rashid Al Nuaimi becomes Ruler of Ajman GCC formed The Gulf Cooperation Council, a union among the states of Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the UAE, is formed with the purpose of establishing joint projects in various fields. The Council's first meeting is held in Abu Dhabi. Delma oil project The foundation is laid for a $700-million project to develop one of the largest oil fields. 1983 Women's role in society Upon the inauguration of the new headquarters of the Abu Dhabi Women's Association, Sheikh Zayed states that, according to Islamic and traditional values, a woman's role is the raising of children, but she should not be confined solely to that role. 1985 14th National Day celebrations Sheikh Zayed confirms his belief that the citizen is the main asset of the country and that the federation's main aim is to serve its citizens.

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1989 Normalisation of relations with the Soviet Union Sheikh Zayed declares that such an act would benefit the UAE. 1990 Dubai mourns Sheikh Rashid Bin Saeed Al Maktoum dies and is succeeded by his son His Highness Sheikh Maktoum Bin Rashid Al Maktoum as Vice-President of the UAE and Ruler of Dubai. Supports Kuwait The UAE condemns the Iraqi invasion of Kuwait. Sheikh Zayed refuses to compromise with Saddam, declaring it was not "our duty to save his face". 1991 Foreign bases not welcome Sheikh Zayed rejects the setting up of permanent foreign bases in the UAE, stating that help from friends was acceptable but bases in the UAE were neither acceptable nor welcome. 1995 Call for an end to Iraqi embargo Sheikh Zayed stresses the fact that 18 million Iraqis were unjustly paying the price on Saddam Hussain's behalf and calls for an immediate lifting of the sanctions imposed on the country after the 1991 Gulf War.

1996 UAE's Silver Jubilee The UAE celebrates its 25th National Day and Sheikh Zayed's 30th anniversary as Ruler of Abu Dhabi. Federation's capital The Supreme Council agrees to make the UAE's temporary constitution permanent and names Abu Dhabi as the federal capital. Sheikh Zayed stresses the importance of running the federation through hard work, which he says is the responsibility of the younger generation. 1997 Boycott Boycotts the Middle East and North Africa (MENA) economic summit being held in Qatar, due to the deadlock in the peace process and the rejection of the event by Arab leaders.13 | P a g e

1998 UAE-Iraqi relations UAE restores diplomatic relations with Iraq. 1999 Accord signed with Oman Sheikh Zayed and His Majesty Sultan Qaboos sign an agreement defining the borders between the two countries. Thanks to the tireless efforts of Sheikh Zayed, the agreement resolves border differences between the two countries. 2001 Support for intifada The UAE's position was clear, says Sheikh Zayed. "We also affirm the continuation of our firm and principled position in support of the Palestinian intifada and the balanced resolutions of the Palestinian National Authority in rejection of such aggressive Israeli policy." Celebration of stability In a message to the UAE people on the UAE Federation's 30th National Day, Sheikh Zayed states patience, perseverance and continued hard work are the reason behind the security and stability of the country. 2004 Cabinet reshuffled Sheikha Lubna Al Qasimi appointed first woman minister. Sheikh Zayed passes away He is succeeded by his eldest son, His Highness Sheikh Khalifa Bin Zayed Al Nahyan. Appointed General Sheikh Mohammad Bin Zayed Al Nahyan appointed Crown Prince of Abu Dhabi. 2005 Armed forces General Sheikh Mohammad Bin Zayed Al Nahyan is appointed Deputy Supreme Commander of the UAE Armed Forces.

2006 Dubai mourns Sheikh Maktoum Bin Rashid Al Maktoum dies, and is succeeded by his brother, His Highness Sheikh Mohammed Bin Rashid Al Maktoum as Vice-President of the UAE and Ruler of Dubai.14 | P a g e

GeographyLocation: Middle East, bordering the Gulf of Oman and the Persian Gulf, between Oman and Saudi Arabia Geographic coordinates: 24 00 N, 54 00 E Map references: Middle East Area: total: 83,600 sq km country comparison to the world: 115 land: 83,600 sq km water: 0 sq km Area - comparative: slightly smaller than Maine Land boundaries: total: 867 km border countries: Oman 410 km, Saudi Arabia 457 km Coastline: 1,318 km Maritime claims: territorial sea: 12 nm contiguous zone: 24 nm exclusive economic zone: 200 nm continental shelf: 200 nm or to the edge of the continental margin Climate: desert; cooler in eastern mountains Terrain: flat, barren coastal plain merging into rolling sand dunes of vast desert wasteland; mountains in east Elevation extremes: lowest point: Persian Gulf 0 m highest point: Jabal Yibir 1,527 m Natural resources: petroleum, natural gas Land use: arable land: 0.77% permanent crops: 2.27% other: 96.96% (2005)15 | P a g e

Irrigated land: 2,300 sq km (2008) Total renewable water resources: 0.2 cu km (1997) Freshwater withdrawal (domestic/industrial/agricultural): total: 2.3 cu km/yr (23%/9%/68%) per capita: 511 cu m/yr (2000) Natural hazards: frequent sand and dust storms Environment - current issues: lack of natural freshwater resources compensated by desalination plants; desertification; beach pollution from oil spills Environment - international agreements: party to: Biodiversity, Climate Change, Climate Change-Kyoto Protocol, Desertification, Endangered Species, Hazardous Wastes, Marine Dumping, Ozone Layer Protection signed, but not ratified: Law of the Sea Geography - note: strategic location along southern approaches to Strait of Hormuz, a vital transit point for world crude oil

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Economic Condition

Economy - overview: The UAE has an open economy with a high per capita income and a sizable annual trade surplus. Successful efforts at economic diversification have reduced the portion of GDP based on oil and gas output to 25%. Since the discovery of oil in the UAE more than 30 years ago, the UAE has undergone a profound transformation from an impoverished region of small desert principalities to a modern state with a high standard of living. The government has increased spending on job creation and infrastructure expansion and is opening up utilities to greater private sector involvement. In April 2004, the UAE signed a Trade and Investment Framework Agreement with Washington and in November 2004 agreed to undertake negotiations toward a Free Trade Agreement with the US, however, those talks have not moved forward. The country's Free Trade Zones - offering 100% foreign ownership and zero taxes - are helping to attract foreign investors. The global financial crisis, tight international credit, and deflated asset prices constricted the economy in 2009 and 2010. UAE authorities tried to blunt the crisis by increasing spending and boosting liquidity in the banking sector. The crisis hit Dubai hardest, as it was heavily exposed to depressed real estate prices. Dubai lacked sufficient cash to meet its debt obligations, prompting global concern about its solvency. The UAE Central Bank and Abu Dhabi-based banks bought the largest shares. In December 2009 Dubai received an additional $10 billion loan from the emirate of Abu Dhabi. The economy is expected to continue a slow rebound. Dependence on oil, a large expatriate workforce, and growing inflation pressures are significant longterm challenges. The UAE's strategic plan for the next few years focuses on diversification and creating more opportunities for nationals through improved education and increased private sector employment. GDP (purchasing power parity): $246.8 billion (2010 est.) country comparison to the world: 51 $239.1 billion (2009 est.) $246.9 billion (2008 est.) note: data are in 2010 US dollars GDP (official exchange rate): $301.9 billion (2010 est.)17 | P a g e

GDP - real growth rate: 3.2% (2010 est.) country comparison to the world: 118 -3.2% (2009 est.) 5.3% (2008 est.) GDP - per capita (PPP): $49,600 (2010 est.) country comparison to the world: 9 $49,800 (2009 est.) $53,400 (2008 est.) note: data are in 2010 US dollars GDP - composition by sector: agriculture: 0.9% industry: 53% services: 46.1% (2010 est.) Labour force: 3.908 million country comparison to the world: 89 note: expatriates account for about 85% of the work force (2010 est.) Labour force - by occupation: agriculture: 7% industry: 15% services: 78% (2000 est.) Unemployment rate: 2.4% (2001) country comparison to the world: 20 Unemployment, youth ages 15-24: total: 12.1% male: 7.88% female: 21.77% (2008) Population below poverty line: 19.5% Household income or consumption by percentage share: lowest 10%: NA% highest 10%: NA% Investment (gross fixed):18 | P a g e

22.3% of GDP (2010 est.) country comparison to the world: 63 Budget: revenues: $65.67 billion expenditures: $63.45 billion (2010 est.) Taxes and other revenues: 21.8% of GDP (2010 est.) country comparison to the world: 140 Budget surplus (+) or deficit (-): 0.7% of GDP (2010 est.) country comparison to the world: 32 Public debt: 51.7% of GDP (2010 est.) country comparison to the world: 50 55% of GDP (2009 est.) Inflation rate (consumer prices): 0.9% (2010 est.) country comparison to the world: 17 1.6% (2009 est.) Commercial bank prime lending rate: 6.2% (31 December 2010 est.) country comparison to the world: 152 5.9% (31 December 2009 est.) Stock of narrow money: $68.76 billion (31 December 2010 est.) country comparison to the world: 39 $60.85 billion (31 December 2009 est.) Stock of broad money: $228.5 billion (31 December 2010 est.) country comparison to the world: 37 $201.6 billion (31 December 2009 est.) Stock of domestic credit: $278.4 billion (31 December 2010 est.) country comparison to the world: 35 $263.6 billion (31 December 2009 est.) Market value of publicly traded shares: $104.7 billion (31 December 2010)19 | P a g e

country comparison to the world: 37 $109.6 billion (31 December 2009) $97.85 billion (31 December 2008) Agriculture - products: dates, vegetables, watermelons; poultry, eggs, dairy products; fish Industries: petroleum and petrochemicals; fishing, aluminium, cement, fertilizers, commercial ship repair, construction materials, some boat building, handicrafts, textiles Industrial production growth rate: 3.2% (2010 est.) country comparison to the world: 109 Electricity - production: 80.94 billion kWh (2009 est.) country comparison to the world: 36 Electricity - consumption: 70.58 billion kWh (2008 est.) country comparison to the world: 37 Oil - production: 2.813 million bbl/day (2010 est.) country comparison to the world: 8 Oil - consumption: 545,000 bbl/day (2010 est.) country comparison to the world: 33 Oil - exports: 2.395 million bbl/day (2009 est.) country comparison to the world: 4 Oil - imports: 235,300 bbl/day (2009 est.) country comparison to the world: 42 Oil - proved reserves: 97.8 billion bbl (1 January 2011 est.) country comparison to the world: 7 Natural gas - production: 48.84 billion cu m (2009 est.) country comparison to the world: 19

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Natural gas - consumption: 59.08 billion cu m (2009 est.) country comparison to the world: 14 Natural gas - exports: 7.01 billion cu m (2009 est.) country comparison to the world: 25 Natural gas - imports: 17.25 billion cu m (2009 est.) country comparison to the world: 16 Natural gas - proved reserves: 6.453 trillion cu m (1 January 2011 est.) country comparison to the world: 7 Current account balance: $6.053 billion (2010 est.) country comparison to the world: 32 $7.804 billion (2009 est.) Exports: $198 billion (2010 est.) country comparison to the world: 25 $191.8 billion (2009 est.) Exports - commodities: crude oil 45%, natural gas, re-exports, dried fish, dates Exports - partners: Japan 17.1%, India 13.6%, Iran 6.9%, South Korea 6.1%, Thailand 5.1% (2010) Imports: $158.7 billion (2010 est.) country comparison to the world: 27 $149.7 billion (2009 est.) Imports - commodities: machinery and transport equipment, chemicals, food Imports - partners: India 17.5%, China 14%, US 7.7%, Germany 5.6%, Japan 4.8% (2010) Reserves of foreign exchange and gold: $42.79 billion (31 December 2010 est.) country comparison to the world: 4021 | P a g e

Debt - external: $152.3 billion (31 December 2010 est.) country comparison to the world: 32 $150 billion (31 December 2009 est.) Stock of direct foreign investment - at home: $76.38 billion (31 December 2010 est.) country comparison to the world: 47 $70.18 billion (31 December 2009 est.) Stock of direct foreign investment - abroad: $54.91 billion (31 December 2010 est.) country comparison to the world: 32 $51.41 billion (31 December 2009 est.) Exchange rates: Emirates dirham (AED) per US dollar 3.673 (2010) 3.673 (2009) 3.6725 (2008) 3.6725 (2007) 3.6725 (2006)

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Part B Product, Company and Analysis

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Product JEWELLERY

Justification for selecting the productTitan came into existence in July 1984, when the Tata Group joined hands with the Tamil Nadu Industrial Development Corporation (TIDCO) to make a foray into the watch industry. Titan started manufacturing jewellery watches and jewellery in 1994. It set up its fully integrated Rs. 400 million-jewellery plant in Hosur. The plant had the capacity to manufacture four tonnes of gold in a year. Titan launched these products under the brand name of Tanishq, in 1995. The name Tanishq, a blend of two words, 'tan' (body) and 'ishq' (love), was coined by Xerxes Desai, the Vice-Chairman and Managing Director of Titan. To change its image from a watch manufacturer to a fashion accessories manufacturer, Titan was renamed Titan Industries Ltd. in 1995. Titan scaled the capacity of its Hosur plant to 4.18 million units in 1996 to meet the domestic and international demand. From the late 1990s, Titan's commitment to the jewellery business increased. When Titan launched Tanishq in 1995, the jewellery industry in India valued at Rs 40,000 crore was mostly unorganized, with around 3.5 lakh players. Before 1992, only the Metal and Mineral Trading Corporation and the State Bank of India were allowed to import gold. In 1992, as part of economic liberalization, the government abolished the Gold Control Act of 1962, allowing free import of gold. In 1993, private companies were allowed to

enter the hitherto restricted gold and diamond mining industry. Foreign investors were allowed to hold up to 50% equity in mining ventures.

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Growth of Tanishq

25000 20000 15000 10000 5000 0 2000 2001 2002 2003 2004 2005 2006 2007 2008

Source: http://www.techshristi.com/35/marketing-feasibility-report-on-tanishq/

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Tanishq: a sparkling journey

The Tanishq saga began in the early 1990s, primarily fuelled by the fabled Tata entrepreneurial spirit and partly forced by circumstance. The splendid Titan watches success story was already up and running, and happened to need more foreign exchange to purchase the imported components and machines required to keep up with the burgeoning watch production. But with India going through a foreign exchange crisis, there was no help coming in, forcing Titan to search for a business that would earn them the required foreign currency.

The first precision engineered watch, Tanishq created with 103 diamonds and pure 18 carat gold. Indian-made jewellery was already a big foreign currency earner and being strongly supported by the central government, and also happened to be a very good fit with the watch business as articles of adornment. The best known brand names in both Europe and America had watches and jewellery together, offering further proof that the two industries are intrinsically linked. It was a business with a huge wealth potential and it added a very feminine offering to Tatas long line of products that appealed mostly to the opposite gender. It also called for an organization that inspired trust and had high order design, manufacturing, marketing and retailing skills, and Tata fit the bill on all accounts. A revolution in Gold Purity Standards across the country. Tanishq was coined from a combination of Tata/Tamil Nadu and Nishq (meaning a necklace of gold coins) and, again, from Tan, meaning body and Ishq, meaning love. It was launched in 1994 as a range of jewellery and jewellery watches meant for the European & American markets. But things began to change globally around this time, and the West entered a protracted period of slow economic growth followed by recession.

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Supplying jewellery to the Americans & Europeans suddenly no longer seemed an attractive proposition.

Initially, the criticism for Titans foray into jewellery was loud and often bitter. Eventually, however, the critics were silenced. Tanishq, today, is perhaps the only major Tata brand with a strong appeal for women. Very importantly, Tanishq has brought to the market a whole new standard of business ethics and product reliability, in the process bringing about a transformation in the manner in which jewellery is bought and sold in India. It has created a revolution in the Indian jewellery trade and in jewellery buying behaviour, and continues to set new parameters of excellence for others to follow.

The recent, 22000 sqft showroom at Usman Road, Chennai. The Indian market, on the other hand, opened its doors to the world, and was now flooded with foreign currency. By the time Tanishq established its manufacturing facility and entered the market, the premises on which the project was based had altered substantially. Foreign currency was no longer an issue, import licences were easy to obtain and the global demand-supply equation for jewellery had shifted in favour of buyers. Tanishq, therefore, switched tracks and shifted its focus to the Indian market and develop a somewhat grandiose vision of the brand as a composite avatar of Cartier, Tiffany, Esprit, and Ernest Jones all rolled in one.

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THE MAKING OF A GREAT GLOBAL BRANDTanishq recognized that the real competition was not from the few other major players but from the regional players in the highly fragmented industry. In order to compete with the regional players, Tanishq introduced the concept of consistency in delivering promise. Also the new generation which used jewellery everyday preferred 18 carat modern jewelery retaining the ethnicity. Consistency in delivering on their promise Tanishq promises superior quality jewellery with purity in gold. They claim and deliver the exact carats and weight that they promise. Impurity in gold and not delivering what was promised is one of the main problems the consumers face when going for gold purchase. Tanishq eliminated this and has built its brand in trust. Tanishq now stands for quality and purity. They even have gold meters where one can check the purity of gold. It is first and only jeweller who guarantees the purity of its gold jewellery and certifies the quality of its diamonds and colored gems in writing. Thus it has established itself as a highly ethical player in a market that was rated as having the highest incidence of underkaratage (Bureau of Indian Standards). Superior products and processes Widely acknowledged as a design leader, Tanishq is known for its ability to develop specialized design collections. Tanishq is the only jeweller that houses a full-fledged design studio with a team of several international award winning Indian designers. Tanishq was recently adjudged the Most Admired Jewellery brand (for the third consecutive time) in India at the Images Fashion awards 2004. It has also been judged as the Images Retailer of Year in the fashion category.Tanishq jewellery is crafted in one of the world's most modern factories. The factory complies with all labor and environmental standards. Located at Hosur, Tamil Nadu, the 1, 35,000 sq. ft. factory is equipped with the latest and most modern machinery and equipment. Every product at Tanishq is painstakingly crafted to perfection. Diligent care and quality processes ensure that the Tanishq finish is unmatched by any other jeweller in the country.

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Distinctive positioning and customer experience. Yet another aspect of Tanishq that sets it apart is a whole new jewellery buying experience offered by its exclusive retail showrooms. Tanishq has not only developed a national retail chain with uniform and transparent practices and policies but also maintained consistency of retailing standards across all these showrooms on an ongoing basis. It has a distinctive positioning in India as it is known for its high quality and jewellery with international standards. Also, since they have many stores across the country they give guarantee on their jewellery and also offer to repair it free of cost anywhere across the country.

An ability to stay relevantTanishq was established in 1995 and within ten years it has become the largest and most desirable brand in the jewellery segment in India. They have constantly introduced new offering to their consumers and have come up with new innovative ideas. They have excellent after sales service and they have been committed in providing good and honest service.

A compelling ideaThe idea of having branded jewellery was a totally unique idea. Coupled with a promise of purity and a unique experience was very compelling. It persuaded a lot of people especially the people in the metros and semi metros to leave their traditional jewelers and go for Tanishq. There was always lack of trust among the consumers for their jewelers. Tanishq removed that with a promise of purity. Hence what it did in India it can replicate across the globe. Offer a totally new perspective to Jewellery buying especially when it comes to exquisite oriental jewellery. Oriental Jewellery across the world is usually found in flea markets or place like China Town or Indian Markets. Going into the main markets in the Western world will give Tanishq the edge.

A resolute core purpose and supporting valuesTanishq maintains its quality standards in all its products wherever they are sold. This shows that they have a resolute core purpose. This is what they will have to maintain even when they global. They have the right range of products for the different markets across the globe. Only they have to remember their differentiating factor. The differentiating factor for29 | P a g e

Tanishq will be the experience and quality they will be giving the consumer when s/he comes to the store.

A central organizational principleTanishq has to translate what its brand signifies to the whole of their organizations. They have done that exceptionally well in the Indian context. A visit to any Tanishq outlet shows that. The people behind the counter are polite and courteous. They know that they are there to deliver the promised exceptional services. The people at Tanishq know what is required of them and hence this will prove beneficial when Tanishq goes global to maintain its global standards. Tanishq, as and when it decides to go global will make a great global brand. As we can see they have all the characteristics, which all the global brands have, it can be said that Tanishq has all the potential to become a leading global brand.

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Vision & MissionOur Vision:To be a world-class, innovative, progressive organisation and to build Indias most desirable brands.

Our Mission:To create wealth for all our stakeholders by building highly successful businesses based on a customer-centric approach, and to contribute to the community.

Our Values and Standards:Total customer orientation - Customers take precedence over all else, always. Employee appreciation - We value and respect Titanians and endeavour to fulfil their needs and aspirations. Performance culture and teamwork - At Titan Industries, high performance is but a way of life and is nurtured by teamwork. Creativity and Innovation - Driven by innovation and creativity, we focus on smarter approaches and newer technologies. Passion for excellence - In all our pursuits, we ceaselessly strive for excellence. Corporate Citizenship - We ensure that a part of our resources is invested in environment and community betterment.

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PRODUCT LINE & THE COLLECTIONSPRODUCT LINE:Tanishq Diamonds The sparkle of diamonds has always attracted the human eye. Finding your perfect piece of diamond jewelry is an exhilarating and unique experience. As with any significant purchase, it is important that you make an educated decision. Cut and crafted with utmost care, Tanishq diamonds come with a certificate of authenticity, stating the caratage, colour and clarity of the stone, to enable you to know exactly what you are paying for. No gemstone expresses human emotions more powerfully than a diamond and Tanishq transforms these precious stones into breathtaking masterpieces, each unique and splendid in design. When it comes to diamonds at Tanishq you will be spoilt for choice from many collections we have to offer. Tanishq Gold From the traditional harams, mangalsutras and thalis to the more fashionable earrings, chains, bracelets and rings, there is a lot to choose from at Tanishq. In India Gold has always been associated with security and is the most valuable form of investment. However, it has been observed that consumer is an easy target to several malpractices like under karatage, under valuation of the gold sold and unfair buy back policies due to the lack of awareness about these issues. Tanishq propagates ethical practices not only by assuring the customer purity and selling policies, but also fair policies to the karigars who craft the jewelry. Tanishq's designs in Pure 22k gold are not only unique, expressing the wearer's individuality but each piece is subject to the intricate process of design, crafting and stone setting with stringent quality standards at every point. At Tanishq, we cater to every occasion. Our collections in gold abound from the grandiose wedding collection to exotic kundan and polki, from the stunning Aarka collections to the exclusive Nakashi work. We ensure that we have something for everyone with our baby range, 9 to 5 for the working woman and high fashion, men's wear, teen's collection and regional specific designs.

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Tanishq Platinum Metal at its best. Pure Platinum's purity endows it with a brilliant white luster. This helps to reflect the true radiance of diamonds. Because it is generally 95% pure (18 karat gold is 75% pure), platinum jewelry does not fade or tarnish and keeps its looks for a lifetime. Rare Platinum is rare, the coveted treasure of discerning individuals. There is very little platinum on this earth and it is found in very few places around the world. This exquisite metal is 30 times rarer than gold. Platinum's rarity makes it exclusive and distinctive - a celebration of your individuality. Eternal Platinum jewelry is the perfect choice for a lifetime of everyday wear. Platinum does not wear away and holds precious stones firmly and securely. All precious metals can scratch, and platinum is no exception. However, the scratch on a platinum piece is merely a displacement of the metal and none of its volume is lost. Some of the world's most famous gems are set in platinum, such as the Kohinoor diamond, part of the British crown jewels. Platinum and White Gold are distinctly different materials and must not be confused. Platinum is a metallic element while White Gold is a Gold alloy, which gets its white colour due to palladium or nickel. Tanishq's Platinum represents excellent value for money. The price may be higher than a similar item in gold but platinum is pure, rare, enduring, beautiful, luxurious, classic, and the perfect host for diamonds; precious qualities that make it worth paying that little bit extra for.

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THE COLLECTIONS The Diamond Collection No gemstone expresses human emotions more powerfully than a diamond After all, a diamond is timeless and finding your perfect piece of diamond jewelry is an exhilarating and unique experience. Cut and crafted with utmost care the diamond collection renders each piece eternal.

The Wedding Collection The bride blushes; Everyone around smiles; The shenai announces festivity; The priests chant auspicious promises; She walks demurely; A vision of beauty; Her jewels are exquisite; Crafted by the best in the land; As pure as the blessings bestowed on her.

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The Zoya Collection Intricacy coupled with the simplicity; The magnificence of history interwoven with linear contemporary; Secrets of the pharaohs masked with the mystery of the cosmos; oriental art embellished with occidental architecture; nature's bounty matched with man's ingenuity.

The Fashion Earring Collection The Fashion earring collection', has a range of over 300 exclusive designs. Keeping in tune with the raging popularity that earrings currently enjoy, the Tanishq design team has created the Fashion earring collection, inspired by the evergreen Jhumkas or Karnaphools and the trendy Chandelier and delicate Stiletto designs

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The Kundan and Polki Collection Influenced by the mughal era Kundan work requires special craftsmanship and a myriad of stages, each crafted by a different set of highly skilled karigars. Tanishq as a revitaliser of tradition brings to life techniques and motifs of the period through our exquisite collections of Kundan and Polki (uncut diamonds).It is difficult for jewelers to ensure the purity and correct grammage of the product since it involves so many stages. However, Tanishq ensures the karatage and net wt of the product.

The Colours of Royalty Collection Colors of Royalty a range of exquisite studded jewelry, reminiscent of the magical Victorian era. The collection is inspired by the classic design essence and sensibilities found in the architecture, fashion, design, drapes and patterns of the Victorian period. Tanishq has incorporated the timelessness of these styles into exquisite jewelry designs to present a collection where fashion and tradition converge. This line of precious stones and diamond jewelry in 18k from Tanishq comprises more than 200 pieces and is by far the largest studded collection launched by us.This exclusive collection was launched at the Ponds Femina Miss India 2006, where the 25 finalists wore it. The Colors of Royalty is a line of exclusive gems and stone studded jewelry that reflects the grandeur of India's rich past represented through the varied meanings associated with colors in our lives

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The Moham Collection The collection comprises designs, motifs inspired by nature that have been beautifully crafted to make them the most desirable possession this season. Moham is a range of exclusive ruby studded jewelry that embodies the auspiciousness the color red has in our lives. Rubies have been associated with prosperity, passion and have been the most coveted gemstone for many years.It is a must have for a Indian women.This range attempts to strike a balance between convention and fashion by creating designs suitable for the progressive Indian woman, rooted in her tradition. This line of Ruby studded jewelry from Tanishq is available in both 18k and 22k. This launch reiterates Tanishq's focus on catering to region specific tastes and preferences. India offers great potential for the Moham collection where Ruby studded jewelry enjoys great popularity and acceptance. Consumer survey indicates that women attach great inspirational value to rubies, second only to diamonds.

The Aria Collection Aria is a collection of variety of everyday jewellery which depict various moods and feelings: Mysteries of love Mysteries of passion Mysteries of envy Bewitching Fascinating Enchanting Hypnotizing Sensuous Captivating

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Exquisite crowns and jewelry Tanishq, India's most innovative jewelry brand, unveiled the awe-inspiring set of crowns and its 'Colors of Royalty' range of jewelry, specially crafted for India's leading beauty pageant, Femina Miss India 2007.

Tanishq has built itself a reputation of bringing innovative designs that suit the needs of "the ever-changing never-changing" Indian woman. The crowns have been designed to convey the essence of India through the use of distinctive motifs such as the traditional and auspicious 'teeka' - the Indian touch to the contemporary styling. Crafted with painstaking detail, each of these crowns convey a story; a story of their "ORIGIN". Inspired by interplanetary movements and colors of flora and fauna, these tiaras are a stunning combination of trillions, baguettes, round brilliant cuts, princess, pears and specially cut colored crystals. Each crown weighs about 450 gms and has a special spring mechanism designed to fit perfectly on any size or shape of head. The inspiration behind each crown is distinct and personifies the spirit of the title. Miss Universe: This crown has the perfect cosmic blend of elements, very like the universe itself. The large red stone, set slightly on the side, is the symbolic and stylised 'teeka'. Miss Universe: This crown has the perfect cosmic blend of elements, very like the universe itself. The large red stone, set slightly on the side, is the symbolic and stylised 'teeka'. Miss World: The natural essence of this piece is enhanced by the wave-like undulating shape on the base of the crown, sitting snugly on the forehead of the wearer. And of course the vivid rectangular blue stone that expresses the teeka of victory, and sets off the varying hues of the sea on the rest of the crown. Miss Earth: This crown derives its inspiration from the essence of nature- her flora and fauna. Based on the fabulous colours and movement of the peacock and its feathers, this stunning piece is an intriguing study in harmony and contrast.38 | P a g e

4 Ps of MarketingPRODUCT PRODUCT VARIETY Tanishq today is India's most inspirational fine jewellery brand with an exquisite range of gold jewellery studded with diamonds or colored gems and a wide range of equally spectacular jewellery in 22Kt pure gold. Exquisite platinum jewellery and designer silverware is also part of the product range. Tanishq designs and manufactures jewellery that is breath- taking, contemporary and yet has a tint of tradition. It produces 22 karat pure gold earrings that come in various shapes, sizes and designs. Some earrings are embedded with precious stones or colour gemstones. These jewellery sets are overwhelming and could prove to be apt for occasions such as marriage, festivities etc. Furthermore, they also make bangles, chains, nose pins, pendants, finger rings, Mangal Sutras etc. They also produce products made from silver such as deity idols etc. Recently, Tanishq has started producing diamond jewellery that are affordable and stunning. The diamond jewellery include collections such as: All Day Diamonds, Aria, Dewdrops, Tanishq Solo, Dancing Diamonds etc. These collections come with a certificate of authenticity that states the karatage, color and clarity of the diamond. QUALITY Consistency in delivering on their promise - Tanishq promises superior quality jewellery with purity in gold. It is the first and only jeweller that guarantees the purity of its gold jewellery and certifies the quality of the precious/semi-precious stones in writing. They claim and deliver the exact carats and weight that they promise. Impurity in gold and not delivering what was promised is one of the main problems the consumers face when going for gold purchase. They eliminated this and have built its brand in trust. Tanishq now stands for quality and purity. They even have gold meters where one can check the purity of gold. Thus it has established itself as a highly ethical player in a market that was rated as having the highest incidence of under karatage (Bureau of Indian Standards).It maintains its quality standards in all its products wherever they are sold. This shows that they have a resolute core purpose. This is what they will have to maintain even when they global. They have the right range of products for the different markets across the globe. Only they have to remember their differentiating factor. The differentiating factor for Tanishq will be the experience and quality they will be giving the consumers when they come to the store. DESIGN Widely acknowledged as a design leader, Tanishq is known for its ability to develop specialized design collections.

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Each piece of jewellery is designed by a team of award winning designers. In fact, Tanishq is the only jeweller to have a full- fledged design studio with one of the largest design teams in the country. Every product at Tanishq is painstakingly crafted to perfection. Diligent care and quality processes ensure that the Tanishq finish is unmatched by any other jeweller in the country. Tanishq was recently adjudged the Most Admired Jewellery brand (for the third consecutive time) in India at the Images Fashion awards 2004. It has also been judged as the Images Retailer of Year in the fashion category. Positioned as 9-to-5 jewellery, the collection is stylish and modern and is designed to suit all forms of attire, western and Indian, casual and formal. BRAND NAME

"Jewellery is one of the last great commodity frontiers in India; it has remained so because this market is very fragmented, very unorganized. Tanishq has successfully taken on the challenge of transforming this frontier into a reliable consumer space by bringing to it all the virtues and benefits that branding offers". - Harish Bhat, CEO, Tanishq. Tanishq was established in 1995 and within ten years it has become the largest and most desirable brand in the jewellery segment in India. They have constantly introduced new offering to their consumers and have come up with new innovative ideas. The surveys showed that awareness of the brand was quite high. The company believes that young urban women, with independent incomes, are looking at branded national jewellers. The brand believes that accretion to this segment is clearly in its favour due to the modern contemporary image among women. SERVICES One of the companys most important initiatives was customer service enhancement. Tanishq launched a direct consumer contact program and conducted surveys to monitor store walk-ins and footfalls and percentage of repeat customers. The company also kept the entry-level price as low as Rs 600 (for a pendant) and offered a range, which far exceeded that offered by any other jeweller. All Tanishq outlets gave a 100% return guarantee on its brand of jewellery and also exchanged other jewellery after deductions depending on purity. A customer satisfaction measurement program was started with the help of Customer Satisfaction Measurement Management (CSMM), an associate of IMRB. CSMM tracked customer satisfaction parameters for Tanishq on a quarterly basis.

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This gave the company the benefit of benchmarking against local and international players and also aided in improving repeat purchases. As a result, it was able to directly link the remuneration of franchisees with customer satisfaction. Since they have many stores across the country they give guarantee on their jewellery and also offer to repair it free of cost anywhere across the country. They have excellent after sales service and they have been committed in providing good and honest service. They welcomes you to exchange your old gold jewellery for new designs. To ensure you get the right valuation for your old jewellery, use scientific, reliable and transparent processes including testing it with the Karat meter.

PROMOTION

The Tata Group has promoted Tanishq as a jewellery store brand, which competes with close to three lakh traditional jewellers who dominate the domestic market. It has launched new collections at a quicker rate than its competitors, and conducted marketing promotions and fashion shows to enhance the shopping experience of consumers. Given the diverse nature of Indian ethnicity, Titan made the designs more ethnic to satisfy the tastes of all regions. Titan transposed designs by stocking Bengali designs in Delhi, Keralite designs in Tamil Nadu and typical designs from Tamil Nadu in Bombay in order to appeal to a variety of people. Concept stores, the first of which, costing Rs 10 crore, opened in Kolkata . The idea of such a store was to harmonize the tradition of the past with the modernity of the present. In 1998, it launched the corporate gold gift scheme - 'When you want to say thank you, say it in gold'. In 1999, Tanishq delivered gold coins worth Rs. 20 crores to Maruti Udyog Ltd., to be given away as gifts to Maruti car owners. By 2001, the scheme accounted for almost 5% of the turnover and over 30 corporate clients like Coca-Cola, the UB Group, Whirlpool, TVS Group, Ceat and Liberty shoes. In early 2000, it made miniature gold cars for Hyundai Motors to be given to select dealers.

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Tanishq has also endeavoured to be part of every occasion in an Indian womans life through festive promotions, customer contact programmes as well as through Anuttara, Tanishqs exclusive consumer reward programme etc. Tanishq provides Gift vouchers in various denominations for gifting your friends and family. Tanishq, to set off competition, launched Jodhaa Akbar collection and managed to get lot of marketing hype. The collection is very pricey and suggested retail price is between Rs 25,000 to Rs 15 Lakhs. One of the companys most important initiatives was customer service enhancement. Tanishq launched a direct consumer contact programme and conducted surveys to monitor store walk-ins and footfalls and percentage of repeat customers. The company also kept the entry-level price as low as Rs 600 (for a pendant) and offered a range, which far exceeded that offered by any other jeweller. A customer satisfaction measurement program was started with the help of Customer Satisfaction Measurement Management (CSMM), an associate of IMRB. CSMM tracked customer satisfaction parameters for Tanishq on a quarterly basis. In 1999-2000 the communication and promotion budget was increased from Rs. 65 million to Rs 100 million in 2000-01. A majority of this was spent towards advertising, while a portion was also earmarked for promotions tailored to match regional preferences. For instance, in New Delhi, which was Tanishqs single largest market, substantial promotions were carried out. The Rs 100 million was split into four parts, comprising national-level spends (both electronic and print media), regional budgets, direct mail and research. For the first time, Tanishq initiated a long-term media plan, aiming to give the brand a round-theyear presence and enhance awareness. A customer survey revealed that despite its high-blitz ad campaign, many didn't know what Tanishq was about, others found it too expensive and some felt that the product was not for people like them .So, Kurian and his team then decided to launch the fifth anniversary celebrations of Tanishq that would offer discounts to customers and induce them to come to the store. The ploy worked and they had customers waiting for the store to open. Ad campaigns also started to list out the products that Tanishq had. Bracelets, rings, chains, pendants were explicitly mentioned in each ad. A range starting at Rs. 399 was launched. The aim was to bring down the price barrier significantly. Collections for the working women and a new set of contemporary designs were brought into the stores. Aria, for seven stone diamond jewellery, Hoopla, focused on diamond studded hoops and Collection-G for lower priced gold jewellery with an interesting twist are just a few lines that have come out of the Tanishqs stable in the last three years.

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One of Tanishqs more innovative ideas is to offer special schemes during various festivals. Tanishq has also initiated a loyalty program called the Golden Harvest Savings Scheme, which offers buyers the benefit of getting more jewellery than what they have paid for. The scheme allows consumers to plan future purchases in advance and pay for them in easy instalments. Exchange offer - change impure gold for pure 22 kt gold - attracted more people to the stores. It is estimated that roughly 2.85 lakh customers bought from - and close to a million people went through - 53 Tanishq stores across 41 cities. Since the European designs in 18carat gold did not find any takers in 1997, Tanishq introduced 22-carat ornaments. After hitting six countries in the last four years, Tanishq entered the $57-billion US jewellery market with two exclusive stores, one in Chicago and the other in New Jersey, in the first quarter of 2007-08.

PLACETanishq jewellery is crafted in one of the world's most modern factories. The factory complies with all labour and environmental standards. Located at Hosur, Tamil Nadu, the 135,000 sq. ft. factory is equipped with the latest and most modern machinery and equipment. Tanishq reached the century mark as it unveiled its 100th store in Patna at Hathwa Market. Having embarked on the retail journey a decade ago, Tanishq today is the largest jewellery retailer in India. With a strong presence in 70 cities across India, unmatched collections and assured purity, Tanishq has quickly become the first choice of discerning customers. Tanishq opened 30 retail stores during FY08, taking the tally to 130 stores. Currently, the average store-size for Tanishq is 1,000-1,500 sq ft. The stores operate on the franchise model. Tanishq has undertaken several unique retail initiatives keeping in mind the customer demand for a world class shopping experience. As such Tanishq retail identity has evolved over the years to offer large format and concept stores that reflect the brands philosophy of being Revitaliser of Tradition. Design and retail innovation have been the hallmark of Tanishq all these years. Tanishq has constantly formulated an innovative product strategy in this journey in line with the evolving consumer tastes. Modern retail values and principles in the selling of branded jewellery in India are almost completely the handiwork of Tanishq. The brand has broken fresh ground in retailing by creating exclusive outlets with hitherto unknown in-store ambience and hospitality touchstones.

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Following more than 40% percent growth in operations last year, Tanishq will invest extensively during 2008 in marketing and retail initiatives to further develop the market. In addition, Tanishq will build new logistics centres and upgrade existing ones, laying a solid foundation to meet future competition. Besides catering to Indian consumers, Tanishq has successfully entered key export markets such as the US, the UK, the Middle East, Singapore and Australia. This is testimony to the brand's ability to craft products that meet the requirements of varied cultures and sensibilities. Tanishqs retail boutiques are temples for the brand and are used as a platform for celebration, be it the launch of a new collection, a new marketing promotion or a festival. This gives Tanishq outlets a unique appeal and consumers an opportunity to heighten their shopping experience. Tanishq gave complete freedom to the retail outlets to pick up designs, which they thought would sell in their stores. Almost all the outlets stocked the 'best selling' range of designs, which did well across the country. In fact, industry experts recall a period when plain gold gained space in Tanishq stores at the cost of studded jewellery. "It was perhaps an offshoot of its expansion into mini-metros and other towns where the company thought plain gold will be in more demand. It was not a well-researched move,'' says an industry expert. It plans to open two pilot stores at Chicago and New Jersey with a retail format of 1,8002,000 sq ft. Meanwhile, it plans to tap small cities by opening 15 Gold Plus outlets, its jewellery store brand for semi-urban markets. Launched two years ago, Gold Plus clocked Rs 200 crore revenues during FY08. Tanishq has entered the US markets. This is an amazing achievement for Titan Industries, said V Govindraj, Vice President, Tanishq. Retail is a capital-intensive business. In America, having 1,000 stores is not unusual. Even for niche retailing, 200-300 stores are needed. But in India, although there are several small scale unorganized jewellery markets, Tanishq is the first and only jewellery brand to have organized mass jewellery retail chains across the country. As our company expands, more and more people will be able to share our mindset. Tanishqs retail strength goes beyond its innovative identity and extensive reach. Tanishq has undertaken several unique retail and marketing initiatives like creating purchase triggers like Doctors Day / Professional Day etc that were unexplored avenues in the industry. Following more than 40% percent growth in operations last year, Tanishq will invest extensively during 2008 in marketing and retail initiatives to further develop the market. In addition, Tanishq will build new logistics centres and upgrade existing ones, laying a solid foundation to meet future competition. Add the world to this. After hitting six countries in the last four years, Tanishq is entering the $57-billion US jewellery market with two exclusive stores, one in Chicago and the other in44 | P a g e

New Jersey, by the first quarter of 2007-08. S. Ravi Kant, COO (international business division), Titan, says: We are not looking at the NRI market only. We want to understand the American consumer. He claims that Tanishqs market research team is figuring out the market and a designer who can create new products for it. Traditional jewellers have been rebranding themselves and are expanding in smaller towns to widen reach. "The emphasis for Tanishq will be on special collections, diamond jewellery and bigger stores of about 4,500 sq ft," Venkataraman said. Tanishq's team of in-house designers came out with about 3,500 designs based on current trends and the feedback from stores. At least 10% of these designs were changed every quarter and fresh ones were added to the stock.

PRICINGWe have very large collections of pendants, earrings and fingerings in this price range Rs 2000-5000. Tanishq range of products start at an accessible low of Rs. 600 and the range Solo, Aria, Diva, Hoopla, Lightweights, Bandhan and the most recent, Colours - comprises wearable everyday jewellery which has been designed for the urban working woman. The Tanishq Valentines Day collection includes pendants, earrings and finger rings starting from Rs. 2,000 onwards. Daytimes collection of all day diamonds, which starts at an affordable Rs. 1,960. The collection combines traditional motifs in sleek contemporary lines with slight touches of black rhodium. The 'up to 25 per cent' off offer by Tanishq is a unique opportunity. This attractive offer has been introduced to benefit the customers and provide them with the best price and product options. Affordably priced from Rs 2,500/- onwards the Tanishq range of diamond jewellery is the ideal accessory for the customers. This collection is crafted using a special process called electro-forming. The jewellery is targeted at customers who are looking for international designs, wear ability and value for money. The new collection starts from a price range of Rs6,000 onwards and available at all Tanishq boutiques across the country. Tanishq offers gold and gem-set jewellery in over 6000 traditional, western and fusion designs. The Tanishq retail chain currently includes 112 exclusive boutiques in 75 cities, making it India's first and largest jewellery retail chain.45 | P a g e

SWOT ANALYSISSTRENGTH Purity (karat meter) Distribution retailing store Award winning designs Diversity in jewellery network and OPPORTUNITIES Global markets Low cost jewellery Customized designs Concentrate on Gen-X by having trendy jewellery Expand retail stores jewellery

gold/diamond/platinum Competitive prices

WEAKNESS Capture Rs 70,000-crore Escalated gold costs lower margins

THREATS Competition Lack of Skilled workers Gold not seen as s source of investment. needed). (Luxury is

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Part C Competitors Analysis, with 4ps and Industry Analysis

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Competitors Damas OverviewHeadquartered in Dubai, United Arab Emirates, Damas is the Middle Easts leading international jewellery and watch retailer. Founded in 1907, the company today operates around 296 stores distributed across 12 countries, most of which are located in the GCC region. The company has grown from a UAE-based retailer into a global brand name, and is also the retailer for a large portfolio of renowned global luxury brands. Damas sells jewellery and watches through four main store formats, which are uniquely positioned to address different consumer segment needs. Specifically, the Les Exclusives Stores offer high-end luxury products; Semi-Exclusives Stores offer stylish and sophisticated products for the discerning consumer; and the Damas 22K and 18K Stores offer trendy, fashionable and stylish products and brands at competitive prices. In addition to the four principal store formats, Damas also operates other outlets such as exclusive watch stores and Mono-brand boutiques.

HistoryThe Group has its origins in the activities of Mr Mohammed Tawfique Abdullah, the grandfather of the Founding Shareholders. Mr Abdullah began designing, crafting and selling gold jewellery to retailers in Syria in the early 1900s. In 1955, the family business moved to the UAE when Mr Tawfique Abdullahs son, Mr Mohammed Taher Abdullah, moved to Dubai and opened a goldsmiths shop under the name Al Abdullah Jewellery Traders LLC (AAJT). The first retail outlet of AAJT was opened in 1959 and the gold wholesale operations began in 1970. In the late 1970s, Mr Taher Abdullah and his three sons, Tawfique, Tamjid and Tawhid, first developed the Damas brand in order to promote and market AAJTs products. By the end of 1985, the Group had expanded into several retail stores, and in 1988 the Group launched its first branded jewellery line under the Harmony brand. In the 1990s, the Group adopted an early version of its current marketing and merchandising strategy to develop its brands and products based on customer segmentation according to demographic profile, including its current three store format.

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By 2000, the Group had established retail operations in Qatar, Bahrain, Oman and Jordan. In 2002, the Group expanded its operations to Kuwait and Saudi Arabia, and by 2004, the Group had expanded to Egypt, Libya, Sudan, Italy and India.

Taiba Jewellery DubaiIf you are in Dubai, anyone would be surprised if you tell that you have not heard of Taiba Jewellery. Taiba is a fine gold manufacturer and supplier of international standards and is ranked among the top five gold manufacturers. Since its inception, Taiba has always been committed to its policy of growth and development while maintaining exceptional quality and workmanship. Taibas products are so famous for their quality, workmanship, and design that regular customers from all over the world are eager to possess it. And, you will be surprised to find that Taiba Jewellery is available at affordable prices. Moreover, the excellent collection of jewelry that you will find at Taibas is seen to be believed. When you are in Dubai, you will discover that Taiba is one of foremost jewelry houses of Dubai. Taiba has several jewelry stores not only in Dubai but all over the Gulf. Some of the prominent places where Taiba has its presence is Jeddah, Madina, Dammam, Damascus, Riyadh, Cairo, Beirut, and Dubai. But, if you would like to discover the beauty of Taiba Jewellery, do make it a point to visit the Dubai Gold Souk. Taiba Jewellery is one of the few companies that has been awarded several international quality awards. Taiba Jewellery which was established in the year 1980 is an international luxury fine gold manufacturer and supplier. Since its establishment more than 30 years ago, Taiba Jewellery is committed to a policy of quality, continuous growth, and development. Should you desire to do your shopping from the comfort of your home or office, simply log on to their ecommerce website and look at their exhaustive catalogue which shows all that they have to offer. The incredible range of Dubai jewelry that Taiba offers is extremely attractive. Rings: Look at the wide assortment of rings that it has to offer in all types of gold and diamonds. You will find rings in 18 and 21 k gold, 18k Najmat Taiba, and in colorful styles in CZs. You will find an astonishing range of wedding bands and wedding rings in 18 and 21k. The wide collection of 18k earrings will floor you. Browse through its bangle collection which offers narrow, wide, and baby bangles in 18 and 21k. You will simply love the pendants on offer for you. You can see an adorable range of bracelets in 18 and 21k. You will fall in love with the 18k necklaces with pendants.

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You will swoon at the sight of the lovely full sets. The Bangle & Ring set in 18k gold is something that you just cannot ignore. The Carina Style collection and the Fancy Rose Style collection will take your breath away.

Taiba Jewellery which manufactures some of the best jewelry in Dubai offers a wide range of extremely high quality 18k and 21k yellow and white gold jewelry. The stones used to encrust the gold jewelry are high quality CZs of many beautiful colors and shapes. If you would like to purchase jewelry that has quality, beauty, sophistication, and excellent workmanship do not give a second thought. Step into Taiba Jewellery where you will find jewelry, that you will cherish and desire

Desert Diamonds DubaiThe Desert Diamond, which is also known by the name of Saudi Diamond, is a high-grade quartz and is considered to be a semi-precious stone in the same category as an amethyst. This is a natural stone and it would only take an experienced eye to distinguish it from a real diamond. You would be surprised to learn that for hardness and scratch-resistant factors, the Mohs scale awards the Desert Diamonds a rating of 7.0 - 7.5 on a scale of 10. It is called as a Saudi Diamond as it is mostly found in diamond fields in and around Riyadh. It is a member of the quartz family which has luster but does not break with age. The Desert diamond is one of the important and integral items of Dubai jewelry. Do not be astonished if you hear that the Desert Diamond is more precious than other semi-precious stones. The Desert Diamond jewelry is handcrafted to exacting standards and is stamped with DD hallmark to confirm the authenticity. The collection has been exquisitely crafted with quality, precision, and style which is the reason why it forms part of the famed Dubai jewelry. Desert Diamonds are available in 18K gold or sterling silver and set with high quality artificial diamonds, colored stones, or pearls and all this at such an affordable price that will leave you stunned. Desert Diamonds are natural semi-precious stones and they are available in a vast range with quality and precision just like a real diamond. The Desert Diamond Collection has been especially created for todays woman who is highly fashionable, stylish, and who immensely enjoys wearing jewelry. And, such a woman definitely feels that jewelry is a fundamental part of her daily beauty accessories. Mention the word Diamond and a womans, any womans, eyes will sparkle like a diamond. That is the power that diamonds have over women, and the Desert Diamond Collection does hold the same sway over them. Each and every diamond stimulant used in the Desert Diamond Collection is offered a three month guarantee that covers the quality and workmanship. These diamonds, which are a part of the Dubai jewelry collection, are set in high quality 18K yellow gold, 18K white gold or 925 sterling silver. The stones are hand cut using the same technology for cutting real50 | P a g e

diamonds. Diamond powder is used in the final stage of polishing which ensures long lasting luster and brilliance. Just take a look at the Desert Diamond Collection which is absolutely unique, wonderful, stylish, and well suited for any occasion. What makes these Desert Diamonds radically different is that they are amazingly affordable, and you will definitely agree that for the price you pay for them, they are a steal! You need not hesitate in gifting them to your close friend or relative on a birthday, a marriage, an anniversary, or for that matter any occasion. The Desert Diamonds from the Dubai jewellery collection makes a woman feel like a real woman all over. Their collection includes rings, earrings, pendants, bracelets, and necklaces in 18 K white gold, yellow gold, and silver, apart from exquisite bridal sets. Gift yourself a Desert Diamond today. It will give you a touch of class! You can buy Desert Diamond collections at Cara Jewellers, Gold and Diamond Park on Sheikh Zayed Road, Ramesses Cafe at Wafi Mall.

CarbonIn early 1991, the Bangalore based Peakok Jewellery Pvt. Ltd., (Peakok) was incorporated and Mahesh Rao (Rao) was appointed director. Peakok realized that the Indian consumer's relationship with gold jewellery would grow beyond an investment need towards a lifestyle and personality statement. In 1996, within the Peakok fold a new brand of 18-carat goldbased jewellery called Carbon was launched. In 2000-01 Carbon's focus had always been to move jewellery from the vault to the dressing table and bring the selling of jewellery out of heavily guarded jewellery stores. This was achieved by persuading a few lifestyle stores to add branded jewellery to their vast array of products. Besides selling from lifestyle stores, Carbon also sold its products as gift items over the internet. Like Tanishq, Carbon laid emphasis on design. Most of its designs were contributed by students at the National Institute of Fashion Technology (NIFT) through the diploma programme which the company sponsored. In addition, Peakok's team of six designers, (headed by Rajeswari Iyer, an alumnus of a German design school who had worked in the U.K., Germany and India) turned out around 180 to 200 styles in a year, with 75 designs per style. At any point in time, there are around 600 designs of Carbon on sale. The creation, manufacture and marketing of Carbon was different from the making and selling of traditional jewellery. It is made available at `shop-in-shop' outlets in large lifestyle stores (such as Shoppers Stop, Ebony, Globus, The Bombay Store, Lifestyle and Taj Khazana) and some premium boutiques (such as the Helvetica in Chennai).Carbon products were priced between Rs. 2,750 and Rs. 20,000 per piece. While the cost of traditional jewellery was negotiable, the cost of Carbon items was fixed and nationally uniform. The brand is available at 50 outlets in 23 cities.

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Industry AnalysisDubai Gold Securities - Fact Sheet GENERAL INFORMATION Product Name Dubai Gold Securities Listing NASDAQ Dubai Ltd. (NASDAQ DUBAI) Issuer Dubai Gold Securities LLP Website www.dubaigoldsecurities.com Listing Date March 2, 2009 TRADING INFORMATION NASDAQ Dubai Code GOLD ISIN Code AE000A0V1RL1 Reuters Code GOLD.DI Bloomberg Code GOLD.DU Currency US$ Approximate Price 1/10th of the US$/oz spot gold price less the management expense fee. Gold Entitlement Initially 1/10th oz, but reduced daily by the management expense fee. Investment Objective Dubai Gold Securities are designed to track the spot gold price less fees. Legal Form A security with a face value of US$0.00001 issued by DGS LLP. Every security is 100% backed by allocated gold bullion Issue Amount Up to 1,000,000,000 Dubai Gold Securities may be issued. -Similar to an open-ended or exchange traded fund (ETF) Dubai Gold Securities can be created and redeemed as market demand dictates. -Securities may only be issued subject to the deposit of gold with the Custodian, HSBC Bank National Association, London Branch, which is held on behalf of securities holders. Management Expense Fee The Management Expense Fee is 0.40% p.a. accrued daily. SHARIAH INFORMATION Compliance Dubai Gold Securities have been designed to comply with Shariah law and practice. A Shariah Supervisory Board has been constituted to supervise the issuance of Dubai Gold Securities in addition to the inspection of the allocated gold held on behalf of investors. The following characteristics have been deemed by the board as assurance that the product is Shariah compliant: Security holders have no obligation or right to the payment of any interest; Only Approved Applicants have the right, at any time to require redemption of all or any of their investment in physical gold;52 | P a g e

All gold will be held by the Custodian at its vault premises, in allocated form; and Each security will be backed by a defined amount of gold in the vault of the Custodian. More details relating to the Shariah compliance of Dubai Gold Securities can be found on the Dubai Gold Securities web-site. GOLD Allocated gold All of the gold backing each security are Allocated London Good Delivery bars (c. 400oz). The allocated gold bars are owned by Dubai Gold Securities holders and carry no third-party credit risk. Jumeirah Lakes Towers, Almas Tower, Level 50, P.O. Box 48800, Sheikh Zayed Road, Dubai, U.A.E. Storage The Custodian holds the gold in its vault or, should any be appointed, in the vaults of its subcustodians. The details of each gold bar held by the Custodian on behalf of investors will be regularly updated on the Dubai Gold Securities web-site. ADVANTAGES OF DUBAI GOLD SECURITIES Easily accessible Listed on NASDAQ Dubai. Secure All gold is held in allocated form on behalf of investors and is subject to regular audits. Cost-effective Dubai Gold Securities have low management, purchase, and sale costs relative to traditional methods of purchasing, storing, and insuring physical gold. Shariah Compliant Dubai Gold Securities have been designed to comply with Shariah law and practice, and a Shariah Supervisory Board has been constituted to oversee the operations, methodologies, and contracts related to Dubai Gold Securities and their trading. Liquid -HSBC Bank PLC will act as the primary market maker in Dubai Gold Securities on NASDAQ Dubai. -Liquidity on NASDAQ Dubai is underpinned by the liquidity in the global over the counter (OTC) gold market. Transparent The amount of gold held on behalf of investors, the Dubai Gold Securities issued and the net asset value of the securities will be shown daily on the Dubai Gold Securities web site. Tracks the price of gold The creation and redemption mechanism available to Approved Applicants provides a means and an incentive to minimise the potential premium or discounts and ensures minimal differences between the security price and the value of gold backing each security. TRADING IN DUBAI GOLD SECURITIES Buying & Selling Dubai Gold Securities can be bought and sold through an online or other standard brokerage account.

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Creation & Redemption The creation and redemption of Dubai Gold Securities can only be performed by market professionals known as Approved Applicants. There are currently no additional fees associated with the creation or redemption of Dubai Gold Securities. Brokerage Brokerage charges will apply to NASDAQ Dubai trades in Dubai Gold Securities and will vary by broker.

Gold selling in UAE Below 18 carat is not legally considered as gold UAE shoppers buy an average of 30 gm of gold annually compared to global average of less than 1 gm In UAE 48% of all gold is for gifting and 28% for self and more than 2/3 of the population buys gold at least once a year

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Part D Marketing Plan, Budget and Strategy for success

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4ps of Tanishq in UAE ProductIn UAE we will introduce the Indian jewellery products. We will offer the Indian designed jewellery to the customers of UAE. The designer for the product will be bought from India. The raw material would be purchased from UAE and the designer who will be carried from the India would design the ornaments. Such product will be offered to the public of UAE.

PriceThe price of the product would be dependent on the basis of the design of the product. Price of the gold would be the same in the UAE but the price which will be charged would be dependent on the design of the product. It would be as follows Exclusive Brands: $500 - $999 Standard Brands: $100 - $499

PlaceThe Dubai Mall is the world's largest shopping mall based on total area and sixth largest by gross leasable area. Located in Dubai, United Arab Emirates, it is part of the 20-billion-dollar Burj Khalifa complex, and includes 1,200 shops. Access to the mall is provided via Doha Street, rebuilt as a double-decker road in April 2009. Twice delayed, Dubai Mall opened on November 4, 2008, with about 600 retailers, marking the world's largest-ever mall opening in retail history. However it is not the largest in gross leasable space, and is surpassed in that category by several malls including the South China Mall, which is the world's largest, Golden Resources Mall, SM City North Edsa, and SM Mall of Asia. The Dubai Mall has recorded a visitor turn-out of more than 60,000 tickets sold for the Dubai Aquarium and Discovery Centre in the first five days, following its opening. The Dubai Mall hosted over 37 million visitors in 2009, and attracts more than 750,000 visitors every56 | P a g e

week. while in 2010 it hosted 47 million, and saw footfall increase by around 27 percent over 2009, despite the economic crisis.

PromotionTanishq has donated a bus amounting AED 105,000 to the Emirates Thalassemia Association.

Tanishq Emirates/NBD Promotion Tanishq has partnered with Emirates/NBD to offer their cardholders with an exclusive

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Celebrate Farfasha on social media Celebrate Farfashas biggest ever launch on social media!...

Celebrate your Special Moments with Tanishq Gift Vouchers A million ways to win some one heart...

Great deals with partner banks and Loyalty Programmes! Offers...

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International Entry Strategy:To enter in the market of UAE I would like to enter through the medium of own manufacturing of Indian traditional jewellery design. I will take the designer from India. They will design the jewellery. I will take 1 shop in The Dubai Mall which is on rent, The Dubai Mall has recorded a visitor turn-out of more than 60,000 tickets sold for the Dubai Aquarium and Discovery Centre in the first five days, following its opening. The Dubai Mall hosted over 37 million visitors in 2009, and attracts more than 750,000 visitors every week. while in 2010 it hosted 47 million, and saw footfall increase by around 27 percent over 2009, despite the economic crisis. 1 in Abu dhabi which is in the Abu Dhabi mall. YOY population growth of 6.8%, with current population estimates at 1.6 million inhabitants in the Emirate of Abu Dhabi, 900,000 of whom live in the capital city The Urban Planning Council (UPC) projects 1.3 million inhabitants in the city of Abu Dhabi by 2013 Emirati nationals constitute 25% of the Abu Dhabi population, and enjoy 50% of total disposable income. Now I will open 5 new showrooms in Abu Dhabi as well as Dubai. These both are the most favorable cities in UAE. I will take 20 workers for the first year for the manufacturing of the jewellery. I will hire 3 persons for each showroom. Those would be local people so that it would be easier to work with the local people. I will publish it in print media, television channels with the same brand ambassador of India Because Bipasha Basu is as much popular in UAE as in India. So the same commercial would be published in the television media. I will promote my product in the events which would held in the Mall itself. Same would be in Dubai after that I will launch more showrooms in other cities of the UAE. I will publish the advertisement in the print media as it is more preferable in UAE. The people over there wear sunglasses while making some deal so do I to matchup with their culture. I will do some promotional activities like by having tie up with Dubai Mall we can offer up to 50 % off on food court over there. We can also offer some discount while some festivals are going on. We can put great offers while the worlds biggest shopping festival is going on in Dubai as well as our other show rooms. The Dubai Shopping Festival (DSF), also known as 'Layali Dubai' in Arabic, is one of the most famous shopping fiestas in the world. Dubai Shopping Festival was first introduced in February 1996 by the Dubai government as a retail event aimed at promoting trade in Dubai. Thereafter, DSF has grown to be an annual shopping, entertainment and cultural extravaganza that attracts millions of people from around the world annually, thereby promoting tourism in Dubai.

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Major features of DSF 2012

Tax-free shopping: The mega event will begin with entertaining street performances and a display of fireworks. Shoppers can begin enjoying the high discounted shopping, and entertaining events organized all through the festival. Shopping in Dubai is largely tax-free, as merchants are permitted to import products from other countries with very little or no custom duties. The shopping malls and retailers will offer up to 75% discount on range of items, including jewellery, watches, electronics, carpets, textiles, perfumes, and handicrafts of major brands. Attractive Prizes: Apart from the tax-free discounted rates, shoppers can also look forward to an opportunity to win several daily and weekly prizes, organized by participating shopping malls and retailers. The prizes include luxurious LX570 car and Dh.100,000 in cash in the Lexus Mega Raffle. The Dubai Gold and Jewellery Group also announce exciting DSF promotions by offering visitors a chance to win 21kilos of gold worth Dh.4.5mn through raffle draws.

This would be the major part of our promotional tool that the tax free shopping which is much cheaper and more over we are offering additional benefits like 50% off & free gift coupons. The most beneficial advantage will be from the Dubai mall which is the most famous as well as biggest mall in UAE. This would be the most beneficial part of our launch at this particular time.

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Financial Plan

10 stores

5 Dubai

5 Abu Dhabi

Among these 10 stores 1 would be in The Dubai Mall & 1 would be in Abu Dhabi Mall. Others would be located in the jewellery market. The rent for these all showrooms are same in the UAE. You can take any of these properties on rent at the same cost. The interior of all the showrooms will be same. The design would be done by the Indian architect. I will keep the design of the showroom same as it is in India. So the feel of its being Indian jewellery shop remains same.

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Expenses Store Rent Interior Design Media

Salary Manufacturing Unit Raw Material Total

Specifications Dubai 5 Stores Abu Dhabi 5 Stores 1 lac/ Store Print Media Television Events Promotional Activity Designer(20*15K*12) Sales person(2*10*10k*12) 5 Bungalows (5*1.3L*12) -

2012 6000000 6000000 10000000 1000000 800000 400000 200000 3600000 2400000 7800000 3 cr 68200000

2013 6000000 6000000 1000000 500000 200000 3600000 2400000 7800000 4 cr 67500000

2014 6000000 6000000 700000 200000 3600000 2400000 7800000 4 cr 66700000

This will be the list of the expenses which will occur during the initial three years of launching the brand in UAE. For all these expenses our company would bear 25 % of the investment other would be taken from the bank. I will put the loan request in our regular transacted ICICI bank. I will put the loan request for the other 75% investment amount. The margin in this business is about 25%. So we can earn 25 % of the price of the product. In UAE the price of the product is based on the design of the product. By the investment of 3 crore in raw material we can produce the ornaments of worth 7 crore. By the sharp and small design which is the most costly design in the gold jewellery. As there is no other show room of specific Indian jewellery we can charge more as compare to others. So in the first year we can earn the profit of 1.75 cr. Per year. This can take us to the BEP after 4 years. This can be afforded by the company. The above 3 year plan is based on the assumptions & reality. This would be the preferred business for me. It can also help us in repaying the loan amount in 4 years so the business will be debt free after 4 years of its starting. The business can be started as we discussed earlier before