Tanishq, Malabar Gold and other jewellery giants put their hallmark on small towns
gold jewellery from Tanishq's store there, but she now has the option to buy it closer home, as the Titan co-owned chain has opened an outlet at Pollachi.
Tanishq's store at Pollachi, about 40 km south of Coimbatore city and opened in April last year, shows how established jewellery chains are going closer to consumers in small towns who are increasingly opting for branded jewellery with latest designs and proper hallmark unique identification numbers, which ensure purity of gold.
For organised retailers like Tanishq, Malabar Gold & Diamonds and PNG Jewellers, setting up shop in small towns help tap into this growing demand at a lower cost than expanding in big cities, as real estate comes much cheaper.
As much as 70% of Tanishq's 436 stores are outside large cities — 38% in places with 200,000-plus population and 32% in smaller towns — with the remaining 30% in metros and mini-metros, chief executive Ajoy Chawla said.
Some of these are located in places such as Kudal in Maharashtra's Sindhudurg district, Bhawanipatna and Angul in Odisha, and Mirzapur and Balia in Uttar Pradesh.
A lot of demand, in small towns as well as big cities, is influenced by social media, Bollywood weddings, and content on TV and OTT platforms such as Netflix and Amazon Prime.
The latest craze among the young generation are the emerald necklaces that Kiara Advani and Parineeti Chopra wore at their weddings, said jewellers.
«Customers come with screenshots or show us the reels and ask us to make something that looks similar to what is shown,» said Saurabh Gadgil, chairman of PNG Jewellers, which has 42 stores in Maharashtra and Goa.
Consumers seek distinctiveness in jewellery and branded segments with their unique offerings fulfilling that
