Mia by Tanishq Expands Retail Footprint, Targets ₹2,000 Crore Revenue.

Mia by Tanishq, the fine jewellery brand, has been experiencing rapid growth over the past five years, recently surpassing the ₹1,000 crore revenue milestone. Strengthening its omni-channel strategy, the brand aims to close the fiscal year with a retail footprint of 230 exclusive stores and is now setting its sights on achieving ₹2,000 crore in revenues in the coming years.

“We have grown 10x in the last five years. In 2020, we were at about ₹100 crore, and now we have crossed ₹1,000 crore in revenues. This is just the beginning of a strong growth trajectory for the brand. With rising gold prices, 14-karat jewellery is gaining popularity, and more consumers are open to experimenting with new designs. We are confident that we have the right strategy in place to achieve the ₹2,000 crore milestone within the next couple of years,” said Shyamala Ramanan, Business Head, Mia by Tanishq.

Despite an urban slowdown affecting discretionary spending, Mia by Tanishq continues to see strong demand, driven by contemporary collections and competitive price points. The gifting segment remains a significant contributor, accounting for nearly 50% of sales, according to Ramanan.

The brand is aggressively expanding its distribution network, with a strong focus on an omni-channel presence. It plans to end this fiscal year with 230 stores, adding 60 new outlets. Looking ahead, Mia by Tanishq is targeting a total of 400 stores in the next few years, expanding into tier-1 and tier-2 cities while strengthening its presence in metro markets.

In addition to retail expansion, the brand is bolstering its online presence, including entry into quick commerce. Mia by Tanishq recently partnered with Swiggy Instamart, making its silver jewellery available in 35 cities. “We started the pilot with just three cities, and it has rapidly scaled up. Our silver jewellery products priced under ₹2,000 are performing exceptionally well on the quick commerce platform. While e-commerce continues to grow, our omni-channel business has doubled over the past year,” Ramanan noted.

With a strong growth strategy, expanding distribution, and increasing digital presence, Mia by Tanishq is well-positioned to achieve its ambitious revenue targets in the coming years.

HBL