Jewellery brand Tanishq is optimistic about consumer demand ahead of the biggest gold-buying day of the year, its top official told DH.
Dhanteras is seen as the most auspicious day in the Hindu calendar to buy gold.
"The customer wants to celebrate this festival season ‘khul ke’ (openly), no holds barred," said Ajoy Chawla, the chief executive officer of Tata-controlled Titan’s jewellery arm.
Chawla sees jewellery sales this year outpacing what Tanishq saw in 2021, when it surpassed pre-pandemic levels. Jewellery gained wallet share last year because other product categories struggled due to supply disruptions.
"We are targeting and aspiring for high growth, even though last year was a very good base," Chawla said on Friday.
The jewellery giant has stocked up well in advance for the occasion to avoid any disruption in diamond supply due to the Russia-Ukraine war.
Tanishq is gearing up for the wedding season that is expected to start next month. While wedding-led demand was lukewarm in the first half of the year, Chawla expects a spike in the back half.
"People are going for expensive stuff. Clearly ticket size jump is good because the segment of people whom we are targeting is also relatively less inflation-affected. So, in that segment customers are going for higher rated value (items)," he said.
Gold prices have moderated from their peaks, he added, stressing on the metal’s appeal as a safe haven.
"I personally feel it is a good time," he said. “Uncertainties always keep gold a little favoured.”
The flavour of this festival season will be lightweight and colourful jewellery that can be paired in layers with clothing, he said.
Published 15 October 2022, 08:47 IST