- 24 Jun 2022
- ICICIdirect Research
TITAN WOMEN'S ETHNIC WEAR BRAND TANEIRA TARGETING RS. 1000 CRORE REVENUE BY FY27
TITAN - 3438 Change: -35.25 (-1.01 %)News: In a media interaction, the CEO of Titan’s Taneira ethnic wear brand, Ambuj Narayan said that Taneira brand is eyeing multi-fold growth in revenues to Rs. 300 crore in FY23 and Rs. 1000 crore by FY27
Views: The Taneira brand predominantly focuses on saree business, which has a market size of Rs. 50000 crore and is growing at a CAGR of 6-8%. The company currently has 25 Taneira stores and is planning to scale up to 60 stores by end of FY23 and further ramp up to 125 stores over the next three to four years. The company is planning to open stores in tier i and tier ii through the franchisee route, going ahead. The saree market is majorly unorganised and Taneira, which is aggressively planning to expand its retail footprint could benefit from a shift in favour of organised branded sarees by aspirational buyers and grow its revenues from the brand at a much faster rate then the category growth
Impact: Positive