Mumbai, Oct. 8 -- With gold prices hitting record highs and buyers turning cautious, Titan Co's Tanishq is banking on old jewellery to drive new sales-rolling out its first-ever 'zero deduction' exchange offer across all gold categories.

Last month, the company rolled out a new campaign under its exchange programme at Tanishq, offering for the first time a '0% deduction' on exchange across all gold categories, even as low as 9 karat.

Exchange of old gold has been inching up for the retailer, with about 33% of purchases now linked to exchanges of old gold pieces and ornaments. The company expects the number to touch 40% with the new rollout. Tanishq draws another 9% of its business from allowing consumers to exchange their old Tanishq pi...