The Thangamayil Story
Thangamayil Jewellery Limited (TMJL), is one of the fastest growing companies in India, positioned in the market as a chain of retail jewellery stores across several districts in Tamil Nadu, a state that is said to have the largest share (40%) of India's total gold consumption (WGC).
Prior to the formation of Thangamayil Jewellery Private Limited in the year 2000, business was carried on by the promoters of the company, in the name of "Balu Jewellery", at Madurai. The company primarily deals with four product lines, i.e., Gold, Silver, Diamonds and Platinum; the sale of gold being a predominant source of its income. As a part of the jewellery retail trade, majority of ornaments are bought from various dealers in the states of Andhra Pradesh, Gujarat, Kerala, West Bengal, etc., to be sold through its chain of stores. TMJL has also established four manufacturing units that employ in-house goldsmiths to craft designer jewellery, which are in vogue with the current trends in the marketplace. The company instituted a number of savings schemes to suit the specific needs of various demographics, distinguishing itself a great deal from the run-of-the-mill business practices in retail jewellery.
The flagship store of TMJL is located at Nethaji Road in Madurai. With a total area of 11,416 square feet, it is arguably the largest store in the jewellery retail market in South India. The second and third showrooms were inaugurated at Rajapalayam and Dindigul respectively, before the company went public. During the financial year 2013 - 14, five new outlets have been opened to foster business growth and development, thereby increasing the total number of showrooms in the chain to 30. Today, the company boasts a total of 40,000 square feet in area, across all its 31 showrooms.
TMJL has recently made a push into the online retail space, securing a foothold in what is now being considered as a native medium for retail operations, worldwide. A fast, secure and highly accessible web portal now serves as a gateway to the several thousand products being offered at their retail stores, translating the brilliant in-store customer service into an aesthetic and visually-pleasing online user experience. TMJL has implemented and exhibited technical feats of a large magnitude, offering customers the unique selling proposition of buying jewellery at store prices with market rates being updated to the dot; a feat no online jewellery retailer has ever deemed worthy, let alone be accomplished.