Titan Company's Taneira targets Rs 1,000 crore revenue by FY27

By

Isabelle Crossley

Published
Jun 23, 2022

Titan Company’s women’s ethnic wear brand Taneira is targeting revenue up to Rs 300 crore in the 2023 financial year and Rs 1,000 crore in revenue by the 2027 financial year, predicting strong growth in its saree business. 

By opening more brick-and-mortar stores and tapping into a growing consumer demand for sarees, Taneira is confident that it can grow its revenue swiftly in the coming four fiscals, ET Bureau reported. The brand will open both company-owned and franchise stores as it expands with a focus on franchise outlets. 

“We are small right now and are recovering from the Covid impact,” said Taneira’s CEO Ambuj Narayan, the Press Trust of India reported. “In the current fiscal we expect revenue of about Rs 250 to Rs 300 crore but our ambition is to make Taneira a Rs 1,000 crore brand by FY27.”

Titan Company launched Taneira in 2017 and the brand specialises in sarees and other traditional style clothing. Taneira currently counts 25 brick-and-mortar stores in cities including Delhi, Mumbai, Pune, Hyderabad, Chennai, Noida, Bengaluru, Lucknow, Kolkata, and Vadodara among others. 

“We are in process to increase the number to 50 to 60 stores by this year and over the next three to four years it will be further ramped up to 125 Taneira retail stores… that will cover the majority of Tier 1 and Tier 2 cities. Now, we will focus more on franchisee stores. Currently, half of the retail stores are company-owned.”