India’s Tanishq has signed a memorandum of understanding with UAE’s Sharaf Group to expand its highly focused value offering in gold and diamond jewelery and leverage Sharaf Group’s retail expertise to fuel its already strong growth story in the GCC.
The two entities will kick off the collaboration by opening a Tanishq showroom in July 2023.
“This partnership with Sharaf Group is an exciting time for Tanishq. We recently opened our 7th store in the UAE and have an imminent regional expansion plan. We are delighted to be partnering with the likes of Sharaf Together we are writing the next chapter with trusted regional retail powerhouses like The Group and look forward to leveraging each other’s strengths to deliver a unique value proposition to our discerning customers in the region,” said Kuruvilla Markose, Chief Executive Officer, International Business Unit, Titan Ltd.
Potential class
“Jewellery is a category with great potential and we need the right partners as we delve into this new territory. When a group with diverse interests like ours is established with Tanishq, India’s leading jeweler from the trusted Tata Group When connected, this bodes well for the future as we share the values of trustworthy transparency, long-term commitment to clients, partners and stakeholders, and guaranteed commitment, added Sharafuddin Sharaf, Vice Chairman, Sharaf Group.
“We already have a relationship with the Tata Group and our connection with Tanishq is a further extension of a partnership based on mutual respect and a traditional value system. With a long history in consumer electronics, fashion and outdoor adventure retail, now with Tanishq The partnership gives us the opportunity to enter the lifestyle space and create added value for our loyal customers,” added Yasser Sharaf, Vice President, Sharaf Group.– trade arab news agency