Taneira, the ladies’s ethnic put on model from Titan Firm, is seeking to foray into newer markets by organising stores and strengthening the omnichannel presence because it eyes almost four-fold development in gross sales through the present monetary 12 months.
The corporate, which was launched in 2017, is anticipating to clock a turnover of round ₹250-300 crore in 2022-23. It goals to attain a topline of ₹1,000 crore by FY27, Ambuj Narayan, Chief Govt Officer, Taneira informed BusinessLine.
Taneira presently has a community of round 25 shops throughout Delhi, Noida, Hyderabad, Bengaluru, Mumbai, Pune, Chennai, Jamshedpur, Vadodara, Lucknow and Kolkata. Practically 50 per cent of those are company-owned whereas the remaining are franchisee retailers.
The corporate plans to take its complete retailer rely to round 60 by the top of the present fiscal and 125 within the subsequent three years. A majority of the brand new shops can be by the franchisee channel. It is usually planning to open abroad shops in markets having an Indian diaspora such because the US.
“We’re presently very small (by way of turnover) as we simply bought began and are recovering from the Covid influence. However now we have nice enlargement plans going ahead. Within the present fiscal we count on income of about ₹250-300 crore however our ambition is to make Taneira a ₹1,000 crore model by FY27,” Narayan stated.
He was within the metropolis to launch two shops marking its foray into West Bengal. The corporate can also be betting huge on omnichannel gross sales and expects it to account for almost 25-30 per cent of its complete enterprise within the subsequent two-to-three years. It has been capable of cater to markets in Bihar and Uttar Pradesh, the place it doesn’t presently have a presence, by a web-based channel.
The model additionally plans to faucet into the big buyer base of Tanishq and Titan Eyeplus, other than having a large base of associates and franchisees.
India’s saree market
In line with Narayan, the saree market in India is estimated to be near ₹50,000 crore and has been rising at a CAGR of 6-Eight per cent. Sarees account for almost 80-85 per cent of its gross sales with the remaining coming from kurta units, blouses and lehangas.
The corporate would proceed to remain targeted on the ladies’s ethnic put on market and plans to roll out work put on and each day put on merchandise quickly.
The corporate’s saree collections are from 100 plus weaving clusters throughout the nation, together with a variety of beautiful Banarasi silks, wealthy Kanjeevarams together with revival designs, Chanderis and Maheshwaris from Madhya Pradesh, Jamdanis from Bengal, Ikats from Gujarat and Andhra Pradesh together with an enormous assortment of Tussars from Bihar and Odisha.
Taneira, which comes beneath the “different enterprise” class beneath Titan together with perfumes, had posted standalone income of ₹154 crore in FY22.
June 24, 2022