Titan has revealed plans to open first Tanishq jewelry brand outlets in Chicago and New Jersey by January 2008.
Company aims to expand this into a 10-store chain with initial investment of US $6-7 million.
Tanishq will target the world’s biggest jewelry market, through either franchisee or self-owned outlets. Currently, US jewelry market is valued at around $16 billion.
Titan Industries, India’s largest name in watch and jewelry sector, looks forward to compete with US high-end brands like Tiffany’s and is optimistic about the opportunities.
Gitanjali Gems and Rajesh Exports also recently publicized plans to explore the US market.
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