Comments
Taneira, the youngest brand of the Titan Company portfolio, is on expansion mode and on course to setting up 14 stores by the year end.
Opening the company’s fifth Taneira store, and the first one in Hyderabad, Bhaskar Bhat, Managing Director of Titan Company, said “As a company, we believe that sarees is a natural extension for Titan. We have created design-led lifestyle bands—Titan, Tanishq, Fastrack, Xylys, Raga, Skinn and now Taneira-- that enable self expression.”
“Similar to the jewellery market , this 5000-year-old category is a large, unorganised market and underserved in terms of authenticity of the product. Following tremendous response in the first four stores, we are now looking at expanding to other cities,” he said.
Taneira creates a different browsing experience which is intimate and yet relaxed with its experiential display of sarees, custom lehengas, fabrics and ready-to-wear blouses. It represents the rich heritage of India textile weaving and crafts—sarees, handmade with love from pure and natural fabrics. They are hand-picked from a diverse weaving clusters of India, providing exclusiveness.
Brand collections
The collection ranges from Banarasi silks, Pitambari, Rangkaat and Gysar, rich Kanjeevarams, Chanderis, Jamdanis, Ikats and Tussars and are priced starting from Rs 1000 and head up to Rs 2,50,000.
“This a Rs 20,000-crore market and the opportunity is huge for an organised player like us. We are not chasing numbers, we will grow the market in a phased manner,” Bhat said describing Taneira as “India under one roof.”
Taneira has tied up with 70 clusters and more than 300 weavers to source sarees and also engages with them to work for their specifications.
Referring to the Titan Company, Bhaskar Bhat said that the company expects to grow the current financial year by over 20 per cent. Of the near Rs 20,000-crore turnover, the jewellery business accounts for about 83 per cent with the rest coming from other segments.
Asked about the impact of GST on their business, Bhat said it has helped grow the business as people have begun to move towards organised retail.
The Hyderabad store, fifth under Taneira brand has been designed by Auroville-based Dharmesh Jadeja of Dustudio.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.