Titan MD C K Venkataraman discusses Zoya’s roadmap as India’s first warm luxury jewellery brand

Rising interest from young people who are well travelled, young businesspersons and established individuals in different corporations have popularised Zoya, said the MD

Mumbai: Zoya – A Tata Product – is poised for a spectacular growth trajectory in the Indian luxury jewellery scene. Speaking to media after the inauguration of the 11th flagship store of Zoya from the House of Tata in Chennai, C K Venkataraman, MD, Titan discussed the accelerated expansion and distribution in the last 4-5 years, which has put Zoya more prominently in Titan’s hierarchy of jewellery division.

He elaborated on the calculated expansion plan of a luxury brand such as Zoya. “The retail expansion of Zoya might be limited to 2-3 stores a year in order to reach the right audience in the right cities. From Chennai, we can cater to the discerning audiences across Tamil Nadu,” Venkataraman said.

When asked on the demand of luxury jewellery in the Indian market, Venkataraman talked about rising enquiries from a typical consumer bracket comprising young people who are well travelled, young businesspersons and established individuals in different corporations. “They are understanding the significance of collecting high-value jewellery and accessories. Their desire to invest in great experiences has been exploding. Although, Zoya forms a small part of the greater luxury industry, the development of the brand in the past 15-16 years has ensured its uniqueness in India,” he maintained.

Commenting on the impact of customs duty slash, he said that it’s a welcome change in the overall structural point of view, as far as the performance of Titan’s mainstream jewellery brands are concerned. “We expect a good festival season going forward,” Venkatraman maintained.

“Zoya belongs to the league of the top marquee brands in this category. The customers we meet therein buy products from the best brands in the world, so their discrimination is proof of Zoya’s success so far. The timing is right for the luxury market, set to flourish in the next decade,” he added.

Zoya sits on top of Titan’s jewellery brand portfolio for the global Indian citizen, explained Venkatraman, adding that the brand has also started selling to the Indian diaspora in North America. Commenting on the unique selling points, the MD remarked on Zoya’s design language, exceptional detailing and exacting standards of materials used such as diamonds and gemstones, the art décor and gallery of every Zoya store, upholding its products as nothing short of wearable art. Typically luxury stores are intimidating, but Zoya exudes warm luxury where everyone is welcome.

Expecting Zoya to grow in double the growth rate of Tanishq in the next decade, he said that the prestige quotient that Zoya brings to the Titan company is great, enabling the brand to foresee and work on future trends such as the opportunity for men’s jewellery and accessories.

Retail Jeweller India News