Daybreak How regional jewellery brands are trying to beat Tanishq at its own game
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Nov 27, 2024 India's jewellery market is witnessing a dramatic shift as regional brands like Kalyan Jewellers and Malabar Gold challenge Tanishq's long-standing dominance. The podcast delves into how these local players are mastering Tanishq’s business strategies and leveraging geographical preferences to attract customers. It also discusses the evolving marketing landscape, where quick sales triumph over long-term branding efforts. Explore how the dynamics of this competitive arena are changing, paving the way for a new era in the jewellery business.
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Tanishq's Rise to Dominance
- Tanishq revolutionized India's jewelry market by prioritizing quality and transparency.
- This approach disrupted the existing family-run businesses and established Tanishq as the gold standard.
Regional Players Challenge Tanishq
- Regional players like Malabar Gold and Kalyan Jewelers are challenging Tanishq's dominance.
- They're employing Tanishq's own strategies, focusing on quality, transparency, and expanding their presence.
Regional Design Preferences
- Ayush Bhavsa from Indore couldn't find suitable bangles at P.N. Gadgil Jewelers in Pune due to regional design preferences.
- He eventually found what he wanted at Malabar Gold, highlighting the importance of catering to diverse tastes.