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Jayant Mundhra
•
Dexter Capital Advisors • 3m
#Deepdive: Tatas have changed Titan’s international foray approach? 💎💎 Or at least, the latest move does indicate so. .. Titan has already been opening its flagship Tanishq stores abroad. -> But, so far, this expansion has focused on nations where the Indian diaspora is a significant enough population. Like in the US, UAE, Singapore, Qatar and Oman -> This has also been confirmed by Titan’s management in the past as the primary driver of launching in such nations It’s a bet on the fact that the Indian diaspora knows Tanishq as a brand and trusts it well. .. However, now Titan has done something else. -> It has formed a JV with Bangladesh’s Rhythm Group to launch Tanishq outlets in the Bangladeshi market -> And this is big because Bangladesh doesn’t have a lot of Indian diaspora If anything, India has a ton of illegal Bangladeshi diaspora. .. Thus, the launch in Bangladesh, a country where the diaspora thesis doesn’t apply, marks a new dawn for Titan and Tanishq. -> One may say, Bangladesh is a small country 🇧🇩 -> But, the way I see this, it is a strategic test for Tanishq's brand resonance in a culturally distinct market -> Success there could pave the way for further expansion into nations where the Indian diaspora is not a major factor .. Meanwhile, what adds to the allure? -> The country has a growing middle class with increasing disposable income and a potential appetite for luxury goods like Tanishq jewellery. Just like is the case here in India -> There are shared cultural and aesthetic sensibilities between the two countries. This could make Tanishq's designs and craftsmanship appealing to Bangladeshi consumers What do you think?
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