Shyamala Ramanan, Business Head at Mia by Tanishq, unpacks the brand’s strategic ascent – from redefining fine jewellery for dailywear to building a high-velocity, omni-channel retail engine that now powers a Rs 1000 crore business
Mia by Tanishq recorded meteoric growth, soaring from a meagre Rs 100 crores to Rs 1000 crores in just five years. Ramanan speaks to The Retail Jeweller about how the brand embraced the broader idea of every woman as a working woman, extending beyond the stereotype of office goers, accelerating omnichannel growth on the back of e-commerce and quick commerce, and transforming its retail identity among the many factors that propelled this growth
Edited Excerpts:
With gold prices hitting record highs, how do you view silver as a category, and what are the opportunities you foresee?
Silver has niche momentum in categories like fashion styling, gifting, and quick-commerce. However, for us, gold — especially 14K and 18K — continues to drive both volume and margin. The narrowing price gap between gold and silver has made lower-karat gold more attractive for entry-level fine jewellery buyers. It offers consumers aspirational value without compromising affordability, and this aligns well with Mia’s lightweight, wearable design strategy.
How is the Mia consumer’s buying journey evolving in this increasingly omni-channel world?
Purchase behaviour today is non-linear. Discovery starts on social media or e-commerce platforms, but closure often happens in-store. Our strategy ensures seamless integration across touchpoints — buy-online-pick-up-in-store, assisted video shopping, and quick-commerce delivery via platforms like Swiggy.
Whether the purchase is pre-planned or impulse-led, Mia’s channel fluidity is designed to convert digital discovery into transaction, supported by delivery speed and inventory availability.
What were the key drivers behind Mia’s retail and distribution growth across markets?
A major focus area was omni-channel acceleration. We built digital capabilities early — from integrating with marketplaces and quick-commerce platforms to enabling video-assisted shopping — while expanding our physical footprint through Mia standalone stores and selected Tanishq outlets. This allowed us to ensure consistent accessibility across consumer touchpoints. At the same time, we worked on retail expansion and identity transformation. Our stores moved away from conventional white spaces to vibrant, pink-themed environments that are more engaging and welcoming. Formats now range from smaller high-street stores to 1,500+sq. ft. flagship outlets, all designed to improve discoverability and footfall conversion.
How has your product strategy evolved to drive repeat purchases and market differentiation?
Our growth has come from thoughtfully expanding our design focus beyond workwear to include jewellery for celebrations, self-expression, weddings, and gifting—driving frequent purchases and broadening usage. We’ve also moved past small, minimalist pieces. By reimagining traditional categories like mangalsutras, navratna jewellery, and nose pins, we are able to appeal to today’s consumer and increase our share of their jewellery spend.
What opportunities do you see in Tier 2 cities versus metros, and how has that influenced your strategy?
While metros offer scale and branding value, Tier 2 and 3 markets have emerged as high-growth zones with strong aspiration and digital maturity. Our store rollout strategy now prioritises these locations, with formats that allow high-touch customer interaction and curated local assortments. Region-specific campaigns — like for Bihu, Ugadi, or Eid — help drive footfall, while central brand assets maintain consistency. We’re also observing strong demand in these markets for lightweight gold products with contemporary styling — a gap Mia is well positioned to fill.
From Rs 100 crore in 2020 to Rs 1,000 crore now — what were the top growth enablers?
Our growth has been driven by several strategic enablers. We sharpened our brand positioning by moving from the image of “blazer-wearing corporate working women” to embracing the belief that “every woman is a working woman.” This was captured through our “For the Star in You” campaign featuring actor Rakulpreet Singh. We also accelerated our omni-channel strategy with early digital investments and expanded our presence through Tanishq and Mia standalone stores to boost accessibility. Product innovation was key — we refreshed our portfolio with trend-led, occasion-relevant designs beyond workwear into celebrations, gifting, weddings, and self-expression. Our retail identity also evolved with vibrant pink façades and larger store formats for enhanced in-store experience. Lastly, we widened our assortment by modernising traditional categories like mangalsutras, Navratna designs, and nose pins, and introduced varied jewellery sizes to suit evolving customer needs.
How large is Mia’s customer base today, and what does customer acquisition cost look like?
Our customer base has grown significantly through digital-led acquisition. While customer acquisition cost (CAC) has risen with market saturation, we manage it with a strong focus on retention — through personalised WhatsApp campaigns, direct outreach, and offer-linked loyalty cycles. This strategy not only optimises CAC over time but also increases repeat revenue contribution per customer.
What are your typical repeat purchase cycles and average ticket sizes?
We typically see 2–3 purchases per customer annually, triggered by self-purchase, birthdays, festive occasions, and gifting. Average transaction values for gold jewellery range between Rs 15,000 and Rs 5,000. The product mix is engineered to support this cycle — accessible enough for frequent purchase, yet high enough in design value to feel differentiated.
In a competitive space targeting young, urban women, how does Mia differentiate beyond affordability and design?
Mia differentiates through access, availability, and experience. Our formats — from mall kiosks to 2,000 sq. ft. high-street lounges — are designed for lower intimidation and high walk-in conversion. Inventory is curated for speed and replenishment, and we invest in technology-backed customer journey tracking. Our link to Tanishq builds trust at the point of sale, especially among first-time fine jewellery buyers.
Have you made any major product or marketing pivots based on consumer insights?
Yes. Earlier positioning focused heavily on the office-going woman. Our market research showed that many working women — including entrepreneurs, teachers, and homemakers — felt excluded. This led to the For the Star in You repositioning and a broader product narrative. On the product front, we’ve shifted from rigid workwear designs to more modular pieces that suit varied use-cases — from everyday wear to celebrations.
Is Mia exploring lab-grown diamonds or alternative materials in response to market trends?
Currently, our focus remains on 14K gold and natural diamonds. There is still significant unmet demand in this segment, particularly in Tier 2/3 cities where branded players are few. While we monitor alternative material trends, we see more immediate opportunity in scaling existing categories with sharper access, design agility, and price innovation.
Now that the brand has reached the Rs 1000-crore mark, how do you plan to sustain and accelerate this momentum?
Our tenfold growth over five years reflects a strong trajectory. As gold prices rise, 14K jewellery is gaining popularity, with consumers more open to experimenting and embracing fresh designs. We’re confident in our consumer-centric strategies and aim to hit the Rs 2,000 crore milestone within the next couple of years.
by Aparna Bhowmick
