Hyderabad: Titan Company’s premium saree and ethnic wear brand, Taneira, plans to launch 14 new outlets across the country this year, a top official said here on Monday.
Speaking at the launch of the Hyderabad outlet, Titan Company MD Bhaskar Bhat said, “We have four outlets already. This year, we expect to open 14 stores.”
With the estimated market for special occasion-wear about Rs 20,000 crore, Taneira, which offers sarees from over 70 weaving clusters, expects each store to take around five to six years to mature.
Meanwhile, Titan Capital, expects jewellery to continue to play a major role as he expects the company to grow at 20 per cent in FY20. “We (Titan Company) grew at 22 per cent growth during last year. It was same for the nine months figures (ended December 31, 2018). We are targeting a 20 per cent growth for this year (FY 20) also,” Mr Bhat said.
He added, “Jewellery is the largest contributor of our business and 83 per cent of our turnover is from jewellery,” he said.
