Curious about which jewellery brand shines brighter in the Indian market—Tanishq vs Kalyan Jewellers? Both are heavyweights in the industry, each with its unique sparkle. In this comparison, we’ll dive into their market performance, store count, revenue, and more to see who’s truly leading the pack.
Whether you’re a jewellery lover or just looking to invest, find out which brand is the best choice for you!
Tanishq vs Kalyan Jewellers: A Brief Overview
We will begin the discussion by comparing the profiles of both the companies-
| Particulars | Tanishq | Kalyan Jewellers |
| Company Type | Subsidiary (Affiliated with Titan Company) | Public |
| Operating Industry | Jewellers | Jewellers |
| Founded | 1994 | 1993 |
| Founders | Titan Company (Parent) | T.S. Kalyanaraman |
| Headquarters | Bengaluru (Karnataka, India) | Thrissur (Kerala, India) |
| Area Served | Worldwide | India; Middle East |
| Design Focus | Traditional Indian designs with a touch of modernity | Intricate antique handcrafted designs to contemporary ornaments |
| Tagline | Notable for its classy designs | Heera hai sab ke liye (A Diamond is for everyone) |
| Competitors | Caratlane, Bluestone, Kalyan Jewellers, Malabar Gold & Diamonds | Senco Gold & Diamonds, Bluestone, CaratLane, Tanishq, Malabar Gold & Diamonds, PC Jeweller, Joyalukkas, etc. |
Note: We have also compared Tanishq with Orra. For more details, go through the article- “Orra vs Tanishq: Which Jewellery Brand is doing better?”
Tanishq
So, you’re curious about Tanishq? Let me paint you a picture.
Tanishq, founded in 1994, is a shining brand in the Indian jewellery scene and a proud part of the Tata Group, thanks to its parent company, Titan.
Tanishq isn’t just about selling jewellery; it’s about crafting stories through every piece. The name itself is a blend of Sanskrit words: “Tan” meaning body and “Nishk” meaning gold ornament. It’s like they’re saying, “We create jewellery that enhances your natural beauty.”
They opened their first store in 1996, and guess what? They were the pioneers of organised jewellery retail in India. Over the years, Tanishq has grown leaps and bounds. They now boast over 410 stores in more than 240 cities, and yes, they’ve even spread their sparkle overseas with outlets in places like the UAE, the US, Singapore, and Qatar.
But Tanishq isn’t just about tradition; they’re all about innovation too.
They offer everything from classic gold pieces and high-quality diamonds to trendy designs through their sub-brands like-
| Sub Brands of Tanishq | Product Lines |
| Mia | Targeting working women with contemporary designs. |
| Rivaah | Focussed on wedding jewellery |
| Mirayah | Catering to younger women |
| Aveer | A line for men. |
Quality is their mantra. They ensure that every piece of jewellery meets high standards, using advanced tech like the Karat Meter to check gold purity. And their commitment to customer service? Top-notch. Their stores are designed to offer a warm, personalised experience, with staff who are more like jewellery experts than salespeople.
Of course, like any big name, Tanishq has faced its share of bumps. There have been some controversies, especially around certain ads, but they’ve tackled these head-on and adjusted their approach to better connect with their audience.
So, whether you’re looking for something classic or contemporary, Tanishq has a piece of jewellery that’s perfect for you. They mix traditional craftsmanship with modern design, all while maintaining a commitment to ethical practices and quality.
That’s Tanishq—where every piece tells a story and every customer is treated like royalty!
Kalyan Jewellers
Let me tell you about Kalyan Jewellers and why it’s such a big deal in the jewellery world!
So, imagine it’s 1993, and T. S. Kalyanaraman decided to start Kalyan Jewellers with just one showroom in Thrissur, Kerala. With an initial investment of Rs.75 lakh (around $90,000), he set out to bring beautiful, high-quality jewellery to people. Fast forward to today, and Kalyan Jewellers is one of India’s largest jewellery retailers, with a significant presence in the market.
The journey began with a focus on South India, and the brand quickly made its mark in states like Kerala, Tamil Nadu, Karnataka, Andhra Pradesh, and Telangana. By 2012, they expanded beyond the South, opening a showroom in Ahmedabad, Gujarat. And the story doesn’t stop there—Kalyan Jewellers went international in 2013 with six showrooms in the UAE. By 2020, they had over 137 showrooms, including 107 in India and 30 in the Middle East.
When it comes to products, Kalyan Jewellers offers an incredible variety. Their collections include the following-
| Product Lines | Category |
| Muhurat | Wedding Jewellery |
| Mudhra | Handcrafted antique jewellery |
| Nimah | Timeless heritage jewellery |
| Anokhi | Uncut diamond jewellery |
| Rang | Precious stones jewellery |
| Tejasvi | Polki diamonds jewellery |
| Ziah | Diamond jewellery collection |
| Laya | Contemporary gold and diamond jewellery |
| Glo | Dancing diamond jewellery |
| Vedha | Heritage jewellery with uncut diamonds |
| Apoorva | Diamonds |
| Hera | Daily wear diamonds |
Kalyan Jewellers takes customer service seriously. Their My Kalyan service centres offer advance booking for wedding purchases, gold schemes, and gold insurance, with over 761 outlets across India. They also have high-profile brand ambassadors like Amitabh Bachchan and Katrina Kaif to boost their appeal.
The company’s business model focuses on tailoring offerings to local markets, and their commitment to transparency and customer-friendly policies has earned them a solid reputation. Their financial performance reflects this success, with impressive growth in revenue and profit.
In essence, Kalyan Jewellers is all about blending traditional craftsmanship with modern retail practices. Their dedication to quality, innovative marketing, and customer satisfaction has made them a trusted and popular name in the jewellery industry. As they continue to expand both in India and abroad, they’re set to remain a top choice for anyone looking for exquisite jewellery.
Business Comparison: Tanishq vs Kalyan Jewellers
Now, let’s dive into the important comparison between Tanishq and Kalyan Jewellers. To find out which one is performing better in the market, we need to look at different business aspects. Checking their financial performance will help us get a clearer picture. So, let’s get started!
| Business Aspects | Tanishq | Kalyan Jewellers |
| Market Valuation/Capitalization | Rs.3,21,000 crore (Market Cap of Titan) | Rs.57,436 crore |
| Market Share | 8% | 2% |
| Number of Retail Stores | 488 stores in 240 cities | 277 (217 in India; 36 in the Middle East; 24 Candere Platform) |
| Revenue | Rs.31,897 crore (FY23) | Rs.14,071 crore (FY23) Rs.18,548 crore (FY24) |
| Profit | Rs.734 crore (Q4 FY23) Rs.786 crore (Q4 FY24) | Rs.390 crore (FY23) Rs.554 crore (FY24) |
First off, if we look at market valuation, Tanishq, as part of Titan, is really big with a market cap of Rs.3,21,000 crore. In comparison, Kalyan Jewellers has a market cap of Rs.57,436 crore. This shows that Tanishq is valued much higher in the market.
When it comes to market share, Tanishq holds an 8% share, which is quite significant. Kalyan Jewellers has a smaller share at 2%, indicating that Tanishq has a larger slice of the market pie.
In terms of the number of retail stores, Tanishq leads with 488 stores spread across 240 cities. Kalyan Jewellers has 277 stores, with 217 in India and 36 in the Middle East, plus 24 on the Candere platform.
Looking at revenue, Tanishq earned Rs.31,897 crore in FY23. Kalyan Jewellers made Rs.14,071 crore in FY23 and Rs.18,548 crore in FY24. Tanishq’s revenue is higher, showing it brings in more money.
For profit, Tanishq reported Rs.734 crore in the last quarter of FY23, while Kalyan Jewellers made Rs.786 crore in the same quarter. Over the whole fiscal year, Kalyan Jewellers had Rs.390 crore in profit for FY23 and Rs.554 crore in FY24, which is less than Tanishq’s quarterly profit but shows they are also doing well.
In a nutshell, Tanishq has a bigger market value, more stores, and higher revenue, while Kalyan Jewellers shows strong profit figures and is growing steadily.
Comparing the Features of Tanishq vs Kalyan Jewellers
How can we forget the various features offered by these reputed jewellery brands of India? So, the following table describes the same-
| Features | Tanishq | Kalyan Jewellers |
| Designs | Offers innovative and unique fusion designs that mix traditional and contemporary styles. Designs are coded for easy replication across stores. | Focuses more on traditional designs. Lacks a coding system for designs, making it difficult to find specific designs again if sold out. |
| Quality Assurance | Emphasizes the gifting and family aspect in its branding, reflected in its choice of brand ambassadors. | Uses a proprietary Karat Meter in every showroom to non-destructively check gold purity, going beyond standard BIS, IDI, and GIA certifications. |
| Exchange Value | Maintains a single gold rate for buying and selling jewellery, ensuring fair exchange prices. | Has faced some customer complaints about undervaluing exchanged gold in certain cases. |
| Brand Positioning | Focuses on the people and new-age women rather than just the metal or occasions. Has a progressive and modern brand outlook. | Emphasises the gifting and family aspect in its branding, reflected in its choice of brand ambassadors. |
| Return Policy | Provides refunds if jewellery is returned in the exact same condition. | Offers only exchanges for other jewellery of the same price in most cases. |
| Customer Loyalty Program | Has a well-established loyalty program with over 3 million members, offering benefits not provided by competitors. | Lacks a comprehensive loyalty program compared to Tanishq. |
| Pricing | The making charges are similar to the rest of the branded jewellery market, offering a premium for quality. | Pricing is comparable to Tanishq and the broader branded jewellery market. |
| Payment Options | Offers flexible and easy payment options to adapt to the shift towards non-cash purchases. | Also provides convenient payment options to customers. |
| Presence | Has a strong pan-India presence with over 488 stores. | Expanding rapidly, with 217 stores across India as of 2022. |
| Product Mix | Higher share of diamond-studded jewellery in its product mix, contributing to higher margins. | Increasing focus on diamond jewellery to compete with Tanishq. |
In short, Tanishq led the way with new ideas in jewellery retail, while Kalyan Jewellers has quickly picked up these strategies to grab a bigger slice of the market and give Tanishq a run for its money.
Who is doing better between Tanishq vs Kalyan Jewellers?
When you look at Tanishq and Kalyan Jewellers, both brands have their strengths, but they excel in different areas. Tanishq, part of Titan, stands out with a market valuation of Rs.3,21,000 crore and an 8% market share. They have 488 stores across 240 cities and reported a revenue of Rs.31,897 crore in FY23. Their focus on innovative designs and quality assurance with their Karat Meter adds to their appeal.
On the other hand, Kalyan Jewellers, valued at Rs.57,436 crore, has a growing presence with 277 stores, including locations in the Middle East. They made Rs.14,071 crore in revenue in FY23 and Rs.18,548 crore in FY24. Kalyan’s strong profit performance, with Rs.786 crore in Q4 FY24, shows they’re also doing well. They’re expanding rapidly and improving their product mix to compete more closely with Tanishq.
Therefore, while Tanishq leads in market value and revenue, Kalyan Jewellers is catching up quickly with solid profits and expanding reach. Both are making significant impacts in the jewellery market!
