MUMBAI: The jewellery brand from the house of Tata’s, Tanishq, is the only Indian brand to make it to the list of top 30 Best Retail Brands in Asia Pacific.
The jewellery brand stands at number 13 with a brand value of $670 million.
On being the first Indian brand ever to make to the list, Titan Industries Jewelery CEO CK Venkataraman said, “It is a proud and humbling moment for us to make it to the Interbrand APAC list of Retails Brands 2014. We would like to dedicate this achievement to the passionate and tireless efforts of the large Tanishq team across the country and our wonderful customers who have helped us achieve all that we have.”
Asia’s consumer markets remain highly fragmented, both as a whole and within individual markets. Genuine liberalisation is patchy as best, with traditional and local retailing dominating in many markets. At one extreme, there are highly concentrate markets such as Singapore, where FairPrice commands over 50 per cent market share in the grocery category; at the other, markets such as India, where modern retail brands remain dwarfed by traditional local retailers.
Commenting on India’s performance, Interbrand India managing director Ashish Mishra said, “It is indeed heartening to see an Indian brand figure in the Best Retail Brands league table. The retail space in India is experiencing simultaneous transformational influences both from the supply and demand sides. Political swings, newer business models, supply chain efficiencies, online innovations, and at the root of it all - complex new customer journeys. The resulting flux is both exciting as well as challenging. We need to adapt but without losing our core cultural resources. Tanishq has in some ways done that."
Key findings across geographies point to major retailers looking beyond their core business models in pursuit of gaining a competitive advantage, online innovation bridging the divide between in-store and online shopping, and a strategic understanding and leveraging of sales data in meeting customer needs and desires better and faster than ever before.
The global Best Retail Brands report ranks the top 50 North American and European retail brands by brand value, as well as the top 30 retail brands from across Latin America and the Asia-Pacific. The report is produced in collaboration with Interbrand Design Forum, the retail experience group within Interbrand, the world's leading brand consultancy.
Interbrand Design Forum MD Dirk Defenbaugh said, “The world’s best retail brands understand the complex and challenging relationships between analog and digital and have been quick to address changing shopper behaviors. By integrating the physical and virtual, making purchasing easier, enhancing service, and using storytelling, these leading brands are re-imagining their offers, and creating unique experiences for consumers that convert browsers into buyers.”