Tanishq, an Indian jewelry brand, has signed a Memorandum of Understanding (MoU) with Sharaf Group, a UAE-based business conglomerate, to extend its highly focused value offering in gold and diamond jewelry and utilize Sharaf Group’s retail expertise to drive its already robust growth story in the GCC.
The two entities will kickstart this collaboration with the opening of a Tanishq showroom in July 2023.
“Jewelry is a high-potential category and as we delve into this new space, we wanted the right partner. When a group like ours with diversified interests ties up with Tanishq, India’s leading jeweler from the trusted Tata Group, it bodes well for the future since we share common values of trusted transparency, long-term commitment to our customers, partners and stakeholders and a guaranteed commitment to service and quality.“
“This partnership with Sharaf Group comes at an exciting time for Tanishq. We have recently opened our 7th store in the UAE with an imminent regional plan for expansion. We are thrilled to be writing this next chapter with a trusted regional retail stalwart like Sharaf Group and look forward to leveraging each other’s strengths to offer unique value propositions to our discerning customers in the region,” said Mr. Kuruvilla Markose, CEO, of International Business Division, Titan Company Limited.
“We already have an association with Tata Group and our association with Tanishq is a further extension of a partnership based on mutual respect and traditional value systems. With a long history of Reliability in Retail of Consumer electronics, Fashion and Outdoor adventure, a partnership now with Tanishq gives us an opportunity to enter the lifestyle segment and create added value for our loyal customers,” added Mr. Yasser Sharaf, Vice President, Sharaf Group.
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