Titan opens Taneira store in Hyderabad, 14 more planned
today May 6, 2019
The Titan Company Limited premium saree and ethnic wear brand Taneira opened its first store in Hyderabad on May 6 and aims to open 14 more company-owned and franchise stores during the 2020 financial year.
Titan Company’s managing director Bhaskar Bhat told the Press Trust of India that Taneira aims to open 14 more brick-and-mortar outlets for Taneira during this fiscal year.
"This year we expect to open 14 stores (mix of company-owned and franchise)," Bhat said. "We are ramping up business as we go along."
Taneira aims to harness the potential of India’s ethnic wear market. "The estimated market for this is special occasion-wear is in the order of roughly about Rs 20,000 crore,” said Bhat, adding that Titan Company grew by 22 percent during the last financial year and expects to grow at a rate of 20 percent during the current 2020 financial year.
Taneira was launched by Tata Group’s Titan Company in February 2017. The brand retails around 3,000 saree designs produced by over 70 weaving clusters across India.
Bhat stated that jewellery is the largest contributor to Titan Company Limited’s sales. "Jewellery is the largest contributor of our business and 83 per cent of our turnover is from jewellery,” he said.
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