Tanishq to invest Rs.1,000 cr to expand retail network

India's largest jewellery retail chain Tanishq, part of Titan Industries, Saturday said it will invest more than Rs.1,000 crore this fiscal in opening new stores across the country.

"Our focus is on higher penetration. We want to reach out to more towns across India," Titan Industries Limited associate vice president V. Ganesh told reporters here.

Ganesh said the company would invest more than Rs.1,000 crore in this financial year for rolling out new stores.

Tanishq, which currently has 146 retail stores in the country, is planning to launch as many as 29 new stores this fiscal.

Among them, the firm will open 8 to 10 outlets in eastern India at investment of about Rs.200 crore. It currently has 20 retail stores in the region.

The Tata Group's jewellery brand Saturday unveiled a special edition of gold coins to pay tribute to Nobel laureate Rabindranath Tagore on his 152nd birth anniversary.