After carving out a significant niche for itself in the gold and diamond jewellery mart in the country, Titan Company flagship Tanishq has on Thursday announced its foray into the contemporary silver jewellery space.
Brought by Mia by Tanishq, the new silver collection — designer pendants, necklaces, rings, earrings, bracelets etc — comes in contemporary style, enamelling and with stones and designs to cater to the young and modern women. Mia is positioned as a brand of bold, modern and chic jewellery. The products are priced in the Rs 1,999 to Rs 5,000 range.
Commenting on the collection, Bhavishya Kelappan, business head, Mia by Tanishq, stated, “The young, modern Indian woman of today is open to tapping new trends and designs, and Mia by Tanishq aims to fulfil this wish. We are proud to be one of the first few brands to launch a contemporary silver collection that is stylish, fashionable, cool and affordable for the young modern woman. Today’s young woman is vibrant and open to trying out the latest fashion trends and she is the one who appreciates and enjoys the little moments in her life and treats herself for the same.”
The collections from Mia, a Tanishq sub brand launched in 2011, are designed to accessorise young and working women for every moment and every occasion from desk to dinner. Mia offers fine jewellery in over 500 designs crafted in 14 kt gold starting from Rs 3,999. Mia has 20 standalone stores and dedicated shop-in-shops at leading multi-brand outlets. The brand will have over 40 standalone outlets by end of the fiscal.
Sandeep Kulhalli, senior vice-president, retail & marketing, jewellery division, Titan Company, said purity is a big issue in the silver market in India. “Silver jewellery from Mia will have maximum purity of 92.5 while purity found in the rest of the market could vary between 40 and 60. Most silver jewellery in the country is currently in the unorganised sector and no measurement for purity is available. Our silver jewellery comes with an e-coating to protect it from tarnishing.’’
India’s jewellery market is estimated to be around $50 billion, which includes gold, diamond, platinum, precious stones etc. Silver jewellery accounts for close to $2 billion and is expected to grow at 30 to 35 per cent CAGR for the next 3 to 5 years.
“So silver jewellery market is here to stay,’’ insisted Kelappan.