Taneira, the women’s ethnic wear brand from the house of Tata, has set an ambitious target of more than double its store count in India to 100 in the next three years and achieve a 6X revenue growth.
Ambuj Narayan, chief executive of Taneira told Mint the company wants to be a ₹1,000 crore brand by FY27 and the leader in a highly disorganized ₹50,000 crore ethnic wear market. The company is closely working with weaver communities to bring a unique range of pure and authentic weaves from over 100 clusters across India.
“We tripled our turnover last year and we plan to continue to grow at a compound annual growth rate (CAGR) of about 50%. It’s also happening because of the aggressive expansion. But what we are excited about is that we will be able to provide these handloom sarees from all the clusters of the country to women across India,” Narayan said.
Taneira, a division of Titan Company, focuses on handloom sarees and aims to tap into the growing demand for traditional attire among younger consumers while offering contemporary designs and a unique shopping experience.
Narayan said the brand has doubled its store count during the last fiscal, from 20 stores in FY22 to 41 stores by the end of FY23 in March. “We are looking at closing FY24 with around 80 stores and 100 in the next three years.”
When asked about the target cities for store openings, he said the brand caters to a wide range of customers and the saree collection offers options starting from ₹1,000, going up to around ₹300,000, thereby appealing to customers across different price points.
He clarified that while the brand is not positioned as a premium offering, it aims to cater to diverse customer needs, from casual wear to light occasions, weddings, and festivals.
Regarding their store locations, he said Taneira’s stores span the country from Delhi to Mumbai, and from Agartala to Ahmedabad.
He also expressed the intention to expand the brand’s footprint in the West, with recent store openings in Mumbai.
On the unique selling propositions, he emphasised two factors—design differentiation and offering the best of India’s craft clusters under one roof.
“We collaborate closely with designers and weavers to co-create contemporary designs while preserving traditional craftsmanship. This approach allows us to differentiate our designs from other traditional stores, offering customers a distinct and immersive shopping experience,” he said. Additionally, Taneira’s collection includes specialised segments such as bridal wear, Kanjeevaram sarees, and even a vegan collection made from sustainable yarn procured from Austrian company Lenzing.
Narayan was candid about opening more stores in the west of India which “we are now expanding into. Largely our stores are located in the South, followed by East and North.” While considering locations, the company is open to both high street stores and malls, provided they attract the desired footfall and cater to the target clientele. The stores typically require a minimum space of about 3,000 square feet to effectively showcase the extensive assortment of handloom sarees from different craft clusters.
With over 5,000 people involved in their vendor network across various clusters and states, Taneira’s reach helps support local artisans and craft communities, he said.
The handloom saree market in India is estimated to be around ₹50,000 crore, growing at a CAGR of approximately 6-8%. Although the younger generation’s adoption of sarees has been relatively low as compared to previous generations, the company aims to change this trend through, of course, contemporary designs, targeted marketing campaigns, and collaboration with educational institutes for saree adoption initiatives.
“Our marketing campaigns showcase younger women wearing sarees and highlight occasions like homecoming and graduation ceremonies to pique the interest of the target audience. Moreover, we plan to partner with institutes, such as the National Institute of Fashion Technology (NIFT), to organise events that introduce and educate young women about wearing sarees,” he said.
In terms of competition, the ethnic wear brand recognises the presence of a large unorganised market as well as established players in the bridal wear and other saree segment, but Narayan said like Tanishq, which became a leader in the unorganised Indian jewellery market, Taneira, too, will lead soon.
With a focus on quality, transparency, and a unique shopping experience, Taneira will carve a niche in the highly competitive ethnic wear market, he said. It will provide customers with a wide range of handloom sarees while empowering local artisans and preserving India’s rich cultural heritage.