Titan plans to open 14 new outlets of Taneira in FY20

Titan Company, a part of the Tata Group, is planning to open 14 new outlets of Taneira, its premium saree and ethnic wear brand, across India this year.

Bhaskar Bhat, Managing Director of Titan Company, said, “We have four outlets already. We plan to open 14 outlets of ‘Taneira’ during FY20, taking the total to 18 by the end of the year.”

Taneira, which offers sarees from more than 70 weaving clusters, is expecting each store to take around five to six years to mature.

Meanwhile, the company aims to grow at 20% during the current fiscal.

“We (Titan Company) grew at 22 percent growth during last year. It was the same for the nine months figures (ended December 31, 2018). We are targeting a 20 per cent growth for this year (FY 20) also,” Bhat stated.

He further added, “Jewellery is the largest contributor to our business and 83 percent of our turnover is from jewellery. If jewellery doesn’t grow by 20 percent then the company doesn’t grow by 20 percent.”