Top officials during the MoU signing ceremony in Dubai.
Sajjad Ahmad, Deputy Business Editor
UAE’s Sharaf Group has signed a memorandum of understanding (MoU) with Tanishq, India’s leading Jewellery brand, to drive the growth of Indian giant in the Middle East and Africa region. The deal was signed on Tuesday in Dubai at a press conference in the presence of top officials from both sides.
Through this strategic alliance, Tanishq aims to extend its highly focused value offering in gold and diamond jewellery and utilise Sharaf Group’s retail expertise to drive their already robust growth story in the GCC. The two entities will kickstart this collaboration with the opening of a Tanishq Showroom in July 2023. “This partnership with Sharaf Group comes at an exciting time for Tanishq. We have recently opened our 7th store in the UAE with an imminent regional plan for expansion.
We are thrilled to be writing this next chapter with a trusted regional retail stalwart like Sharaf Group and look forward to leveraging each other’s strengths to offer unique value propositions to our discerning customers in the region,” said Kuruvilla Markose, CEO- International Business Division, Titan Company Limited. “Jewellery is a high potential category and as we delve into this new space, we wanted the right partner.
When a group like ours with diversified interests ties up with Tanishq, India’s leading Jeweller from the trusted Tata Group, it bodes well for the future since we share common values of trusted transparency, long term commitments to our customers, partners and stakeholders and guaranteed commitment for service and quality,” added Sharafuddin Sharaf, Vice Chairman, Sharaf Group.
“We already have an association with Tata Group and Tanishq is a further extension of our partnership based on mutual respect and traditional value systems . With a long history of Reliability in Retail of Consumer electronics, Fashion and Outdoor adventure, a partnership now with Tanishq gives us an opportunity to enter the lifestyle segment and create value for our loyal customers,” added Yasser Sharaf, the Vice President Sharaf Group.