Orra vs Tanishq: Which Jewellery Brand Is Doing Better?

Do you know India is the second-largest jewelry market in the world after China? As of 2023, the whole Asia Pacific jewelry market is worth $88.26 billion. Now the crazy part is the domination of Indian jewelry brands in this market with notable players like Tanishq and Orra.

So, naturally, it led to the debate on Orra vs Tanishq to determine which jewelry brand is doing better. In this article, we will go through a thorough comparative analysis. Also, we will determine who is winning in the Indian market.

Stay tuned!

(A) Orra vs Tanishq: A Brief Overview

First of all, let’s compare the profiles of both companies-

Note: The e-commerce market has integrated jewelery business too! Sounds interesting, isn’t it? Two notable online jewelry players are Caratlane and Bluestone. To dive into the depth of information, visit the article- Caratlane vs Bluestone- Who is leading the online jewelry market?

(B) Orra

Diamonds have always been a symbol of grace! Orra traces its lineage back to 1880. It is a double-century-old brand! Orra claims that its jewelry is crafted by skilled artisans. This brand is famous for Belgian diamonds.

Here is how Orra describes itself-

“Crafted by experienced master artisans working on brilliantly cut Belgian diamonds carved into exquisitely designed 22kt BIS Hallmarked gold, our jewelry is defined by superior industry standards. Featuring India’s exquisite diamond jewelry, traditional sets of Kundan, polki & colored stones, and modern, minimalist pieces in gold for the modern empowered woman.” 

Let’s look at its journey-

• Started as ‘Intergold’, the first store at Hughes Road, Mumbai.
• Introduced a spiritual line of pendants, ‘Couple Platinum Bands’, and ‘ORRA Crown Star 100 faceted diamond’.
• Continued releasing award-winning jewelry collections.
• Established the brand’s largest store in Andheri, Mumbai.
• Introduced Divaa, our lab-grown diamond brand.
• Collaborated with successful fashion designers and industry influencers.
• Set up 5 global design centers to explore and experiment with collection aesthetics.

Orra began its operations by sourcing, manufacturing, and sculpting diamonds. Now it retails them through 85 stores spread across 39 cities of India.

(C) Tanishq

Tanishq, an Indian jewelry brand under Titan Company, was founded in 1994 with its headquarters in Bangalore. It has 410 retail stores across over 240 cities in India, UAE, the US, Singapore, and Qatar.

Let’s peep into the history of Tanishq briefly-

• In the late 1980s, Titan launched Tanishq, initially focusing on exports to Europe and America.
• With the resolution of India’s exchange crisis in the early 1990s, Tanishq shifted focus to the Indian market.
• Production began in 1994, and the first store opened in 1996, becoming India’s first jewelry retail chain.
• Despite initial losses, Tanishq’s net worth began to grow in 2000 under the leadership of Managing Director Xerxes Desai and Bhaskar Bhat.
• By 2003, Tanishq was among India’s top 5 retailers, contributing 40% of Titan Company’s revenue.
• Tanishq expanded its offerings, launching sub-brands like Mia for working women in 2011, Rivaah for weddings in 2017, and Mirayah for women under 40 in 2017. The Aveer line, its first men’s collection, was launched in December 2017.
• As of December 2022, Tanishq had 385 retail stores in India and planned to open 45-50 more by the end of 2023.

International Presence

• In the late 2000s, Tanishq opened stores in the United States but closed them shortly after.
• Amid the COVID-19 pandemic in 2020, Tanishq opened its first store in Dubai, followed by stores in UAE, USA, Qatar, and Singapore.
• By the end of 2023, Tanishq had 14 international stores and aimed to continue expanding its global presence.

(D) Business Comparison

Here comes the crucial part of the comparative analysis of Orra vs Tanishq. To determine who is doing better in the market, we need to compare various business aspects. Their financial performance will give a clearer picture of your query. So, let’s hop in-

From the table, we can see significant differences between Orra and Tanishq in terms of their business aspects. Tanishq, being a part of Titan, has a much higher market capitalization of Rs.3,21,000 crore compared to Orra’s Rs.2000 crore market valuation. This indicates that Tanishq is a much larger and more established brand in the market.

In terms of retail presence, Tanishq also leads with 488 stores compared to Orra’s 86 stores. This shows that Tanishq has a wider reach and availability across more cities.

When it comes to revenue, Tanishq dwarfs Orra, with a revenue of Rs.31,897 crore in FY23 compared to Orra’s Rs.950.9 crore.

Similarly, Tanishq also outperforms Orra in terms of profit, with an estimated profit of Rs.889 crore for FY24, while Orra reported a profit of Rs.19.5 crore in FY23.

Overall, these numbers highlight the significant difference in scale and performance between Tanishq and Orra in the jewelry market.

(E) Comparing the Features of Orra vs Tanishq

In this section, we will dive into the differential features of Orra and Tanishq-

Both Orra and Tanishq have their unique strengths and cater to different consumer preferences. Choose the one that resonates with your personal style and preferences!

(F) Who is doing better between Orra and Tanishq?

As per the data, Tanishq appears to be doing better than Orra. Tanishq has a much higher market capitalization, more retail stores, significantly higher revenue, and projected higher profits for the current fiscal year. These factors suggest that Tanishq has a stronger presence, higher sales, and potentially better financial performance compared to Orra.

But we can’t neglect the significance of Belgian diamonds offered by Orra. 

It’ll be interesting to see how Titan and Orra will perform in the current fiscal year!