Driving Retail Excellence: Krishnan Padmanabhan on the Strategy and Future Growth Behind Tanishq's Mega Store Success

With nearly a decade of experience at Tanishq, Krishnan has played a pivotal role in the brand’s evolution, overseeing the growth of Tanishq’s mega stores and driving innovation in retail operations. In this exclusive interview, Krishnan shares insights into his leadership philosophy, the strategies behind Tanishq's retail success, and the brand's ambitious expansion plans in India and beyond.

What are some of the key milestones in your professional career that have shaped your approach to retail operations?

I've been with Tanishq for nearly a decade now. One of the most significant milestones for me has been witnessing the brand's growth, expanding from an 18,000 sq. ft. space to over 40,000 sq. ft. This evolution has deeply shaped my approach to retail operations.

How would you describe your leadership style, and how does it align with the brand's corporate culture?

I firmly believe in the power of people and in empowering my team to make decisions. This approach fosters a sense of ownership among the team members for the roles they play within the brand.

What strategies do you employ to keep your team motivated and aligned with the company’s vision?

Keeping the team motivated is crucial for any leader. I focus on coaching and guiding them through new developments or challenges. Another key strategy is conducting regular reviews, recognizing team achievements, and rewarding them by offering visibility within the organization.

Can you share an example of a time when your leadership directly contributed to overcoming a significant challenge at work?

The COVID-19 pandemic was a turning point for the retail industry. During that period, I was serving as the Area Business Manager in Mumbai and was responsible for both people and business. Our primary focus was ensuring the health, wellness, and well-being of our team and clients. In response to the crisis, we made empathy calls to our clients, which had a significant impact. Once conditions improved, we adapted by engaging customers virtually, organizing special online musical events for our clients. We even partnered with Kailash Kher to create memorable virtual experiences. This initiative helped us maintain strong client relationships during challenging times.

What factors influence your decision when selecting locations for new Tanishq mega stores?

The store's turnover is the most crucial factor before finalizing a location for a mega store. The Tanishq mega channel was launched last year in response to market necessity and demand. In addition to store turnover, market potential, location, and surrounding vicinity also play a significant role in the decision-making process.

Can you elaborate on Tanishq’s expansion plans across India and the number of mega stores?

According to our company's reports, Tanishq plans to add 40-50 stores over the next eight months. Out of the 480 operational Tanishq stores, 26 are mega stores.

What are the key elements that differentiate Tanishq from other jewelry brands in the retail space?

Tanishq has always been a leader in the organized jewelry segment. Several key elements set us apart, including the purity of our jewelry, transparency in our processes, and our exchange policy, which many of our competitors do not offer.