Affordable collection in store, Titan's Taneira eyes wider market

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Mint. “Kurta is still a small category for the brand—we want to make it a decent-sized business for us. Ever since Taneira was launched, the focus was on sarees.

We believe we have a decent expertise in sarees now. We want to catch on to kurtas as well as lehengas now," he added. To be sure, the average selling price point for sarees at Taneira is between ₹8,000 and ₹9,000.

Its range of sarees starts at ₹1,200 and runs up to ₹2,00,000. Taneira, from the house of Tata, sells sarees, dress materials and ready-to-wear kurtas. The retailer works with over 100 textile clusters across India.

“We will have more collections priced between ₹1,500 to ₹2,000 that are planned," Narayan said. Such collections will also enable the retailer to enter smaller markets where shoppers are typically looking for more “value" clothing. The retailer plans “focused expansion" in tier two and tier three markets by the end of FY25.

“One of the reasons why we are not really going great guns into tier two markets or tier three markets is because we need to have more affordable price points and we are developing that whole range across categories, whether sarees or ready-to-wear kurtas and lehenga which is more suited for tier three shoppers," Taneira's CEO said. Taneira more than doubled its store count in FY23 from 20 to 41 stores across 22 cities. The retailer is set to exit FY24 with 75 stores.

The company is on track to open 40 stores next year and add another 35 to 40 stores in FY26. The management has set a target to touch Rs1,000 crore in revenues for the business by FY27. “Right now the focus is on populating the metros and tier one cities… So by the end of FY27 we aim to be at around 180 to 200 stores and with a top line of ₹1,000 crore,"