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Titan’s Taneira opens First store in New Delhi, plans massive expansion to open 50 stores by 2023

Titan’s Taneira opens First store in New Delhi, plans massive expansion to open 50 stores by 2023

Titan Ltd backed ethnic wear brand Taneira is planning massive expansion on a pan india level and it has now been planning to open 50 new stores across in the country over the next five years.

Titan is betting big on ethnic wear for growth and will be investing around Rs 450 crore ($62.4 million) on its new store expansions. It expects to capture a major market share of the ethnic wear market in India with its retail expansion.

Taneira, the ethnic wear brand from Titan Ltd, has started its retail expansion with the opening of its first store in the national capital region New Delhi. The flagship store was inaugurated by Bollywood actress Kangana Ranaut.

As per the data currently India’s ethnic wear industry is currently estimated worth to be around Rs 61,679 crore ($11.63 billion) market and expected to grow further by 8.4% over the next decade, according to a Technopak report. It is no surprise Titan is looking to get the big opportunity in on the boom and make early entry into the segment.

Titan’s Taneira opens First store in New Delhi, plans massive expansion to open 50 stores by 2023

The store located at South Extension – 1 is spread across 7500 sq. feet and will house a wide collection of sarees that include Mugas from Assam, Ikats from Gujarat, Andhra Pradesh and Orissa; Jamdhanis from Bengal, Chanderis & Maheshwaris from Madhya Pradesh.

The store will be having one entire floor dedicated to wide range of bridal collection which will have Banarasi silks including Raktambari, Shwetambari, Gyasar, and Hazaar buti.

Commenting on the store launch, Bhaskar Bhat, Managing Director, Titan Company Limited said, “As a company, we believe that sarees is a natural extension for Titan – we have created design-led lifestyle brands that enable self-expression – Titan, Tanishq, Fastrack, Xylys, Raga, Skinn (fragrances) and now Taneira.

“Similar to the jewellery market when we began, this 5000-year-old category is a large, unorganized market and underserved in terms of the authenticity of the product. Seeing the tremendous reception we have had in our pilot stage of the business, we are confident this venture will be an opportunity for us to build relevance and enable transparency & authenticity for the customer,” he added.

“The ethnic wear and saree category in India is growing at a very healthy rate and we thought it is the right time to enter the market. In the course of 4-5 years we are looking to open around 50 stores in the top 20 towns of the country,” Ajoy Chawla SVP, strategy & business incubation at Titan Company told the Economic Times.

“The company will open stores in three size formats: 2,000 square feet, 5,000 square feet and 7,500 square feet depending on the town and location. We might look to open bigger stores as well in the future. The investment to launch this flagship company owned outlet is around Rs 8-9 crore,” added Chawla.

Tata group firm Titan Co Ltd forayed into premium sarees and women’s ethnic wear category with ‘Taneira’ in February 2017. It currently retails through its three company-owned outlets,, and Tata Cliq.

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