Taneira, the women ethnic wear brand from Titan Company, aims to become a ₹1000 crore brand by FY 2027. The company is betting big on the upcoming spring-summer season. The retailers, known for its sarees, is looking at further strengthening its position in the women’s ethnic wear segment by also piloting ready-to-wear kurtas and light ocassion lehengas.

Ambuj Narayan, CEO, Taneira told businessline, “We will end FY 2024 with 75 stores and we have added more than 50 stores in the past two fiscal years. So we are progressing well with our expansion plans. This expansion is happening largely in metros and tier-1 cities and I believe there will continue to be immense potential in these markets. By FY27, we want to be close to 200 stores across India.”

Narayan said that the brand expects to end the fiscal year with overall growth of about 60 per cent on the back of expansion of new stores while like-for-like sales have also been “decent.”

“We aim to becoem a ₹1000-crore brand by FY27 and we are on track to achieve this objective,” he added.

The saree segment in the country is largely unorganised. But in recent times, several organised players have entered in this segment as consumers are increasingly looking to buy branded ethnic wear. “We are pretty much driving this shift from unorganised to organised segment in the saree segment since 2017. We believe this is a category where design,branding and style can play a key role,” he added.

Responding to a query on the white spaces identified by the brand in the ethnic wear segment, Narayan said, “ Apart from sarees, we are looking at ready-to-wear kurtas and light ocassion lehengas.We want to become a one-stop destination when it comes to ethnic womenwear. We are piloting and gauging customer response. We have launched new collections in these adjacent categories and we are in the process of refining our assortment. We will strengthen our presence in these segments too.

He added that while sarees will continue to be the mainstay for the company, the adjacent categories will further fuel the growth of the brand.

“We had a very robust festival and wedding season. Now, we are looking forward to the summer season which is a very important season for us. We are going into summer with a very confident mindset with our dedicated collections,” Narayan added.