Titan's newly-launched ethnic wear brand ‘Taneira’ will launch around 40-50 outlets in the top 20 towns of India in the next 5 years. The brand already has 2 stores in Bengaluru.
Ajoy Chawla, SVP, Strategy & Business Incubation at Titan Company, said, "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 20 towns of the country."
Bhaskar Bhat, Managing Director, Titan, stated, "As a company, we believe that sarees are 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."