Titan Company Limited: Taking Tanishq, India’s Iconic Jewellery Brand, to the United States

Tanishq, owned by Titan Company Limited (Titan), was one of India’s largest and most iconic jewellery brands. Founded in 1994, Tanishq had become a household name, having instilled trust by certifying the quality of its gold and offering exquisite jewellery designs catering to consumers of all economic classes. As of the end of March 2023, Titan operated 763 jewellery retail stores covering its major brands. Despite its success in India, Tanishq had faced significant challenges in its first foray into international markets. In 2008, it attempted to enter the United States by launching two retail stores; both had to be closed, due to the global financial crisis and a lack of suitable investors in its US operations. In 2023, Titan, a Tata Group company, launched Tanishq’s first brick-and-mortar store in the United States and was aggressively aspiring to expand into Gulf Cooperation Council regions such as the United Arab Emirates and Qatar. Why did Titan, a company that had a strong jewellery brand in India with a record of fast-growing sales, want to take Tanishq and its other jewellery brands global? Did the company’s resources support international expansion? If so, had it chosen the right countries to target? What should be the mode of entry?