In an exclusive interaction with BW Retail World, Shyamala Ramanan, Business Head of Mia by Tanishq, disclosed the brand’s plans to tap into emerging markets and cater to the evolving tastes of consumers
Mia by Tanishq, the well-known jewellery brand catering to modern Indian women, is gearing up for a significant expansion drive in Tier II and Tier III cities across India.
Ramanan emphasised Mia’s commitment to understanding and catering to local preferences, ensuring that their collections resonate with customers in every region. She noted that with the rise of ecommerce, shopping has transcended geographical boundaries, prompting Mia to establish premium stores even in cities like Jorhat and Rohtak.
Despite the surge in online sales during the Covid-19 pandemic, Ramanan observed a growing preference for offline shopping experiences. As a result, Mia is now focusing on expanding its physical presence to meet the rising demand for offline retail outlets in India.
As per Ramanan, over the past three years, the brand has experienced unprecedented expansion, with its business soaring threefold each year.
Despite the surge in online sales, which contribute to a single-digit percentage of the brand’s overall revenue, Mia’s offline stores continue to serve as the cornerstone of its success, acting as the primary revenue driver and a key touchpoint for engaging with its loyal customer base.
“In India, touch and feel are still an important factor when it comes to buying jewellery. Hence offline sales contribute majorly to our sales,” said Ramanan.
However, she also added that even with their online sales, they have been able to touch cities that are so far untouched.
“Since our products are packed under camera surveillance in our own warehouses and in tamper proof packaging, chances of fraud are bare minimal for online sales,” she pointed out.
Looking back at the brand’s journey, Ramanan said that from its beginnings with a 250 square feet store, Mia has evolved to establish flagship outlets, including one in Connaught Place, Delhi.
Looking ahead, Mia aims to further strengthen its presence by expanding to 180 stores by the end of the fiscal year, catering to the burgeoning demand for affordable yet stylish jewellery among Indian consumers.
Rajiv C Menon, National Sales and Retail Head of Mia by Tanishq, highlighted the brand’s extensive reach, spanning 77 cities nationwide. He emphasised the growing aspirations of today’s youth, regardless of their city of residence, and underscored the importance of affordable yet high-quality jewellery in boosting confidence and self-assurance.
