Taneira Likely to Turn Profitable in Next 2-3 yrs; Expects 30% Growth in Festive Season: CEO

Taneira, an ethnic wear chain from the Tata group firm Titan, expects to become profitable over the next 2-3 years and aims for 30 per cent growth this festive season due to strong consumer demand, its CEO Ambuj has Narayan said.

Taneira, which is expanding its retail footprints in metro markets, will continue to add 15 to 20 stores every year, and it is investing Rs 3 crore on opening a new store, he said on Wednesday.

The ethnic wear chain also offers an EMI-based purchase plan for large-scale buying, such as weddings.

"We are now present across 40 cities and have 80 stores. We are also present online. So, it is an omni-channel model that we have, and we are looking at opening more stores in metros and tier I cities," Narayan told PTI.

As per its strategy, it will strengthen its base in metros and tier-1 cities before entering into smaller tier-II towns.

"Certainly, we will open 10 to 15 stores every year, and we are always on the lookout for you know, potential sites for opening stores, so we keep building our pipeline, and whenever we are ready, we will open stores," he said.

Taneira, started by Titan in 2017, is scaling gradually and contributes less than one per cent of Titan's total revenue of Rs 57,339 crore in FY25.

"We are seeing some very high double-digit CAGR. In the last three years, we have grown at about 65 per cent CAGR, and we will continue to grow and expect the business to become profitable in the next 2-3 years," he added.

The brand has established a scalable supply chain network, with over 300 vendors and engaging more than 12,000 artisans across the country.

When asked about the GST impact, he said Taneira will pass all benefits to customers and, wherever possible, will not raise prices.

Currently, the saree category contributes about 85 per cent, and the remaining is mainly from the ready-to-wear segment.

"Our target customer for ready-to-wear is certainly the younger women," Narayan said, adding that "we have introduced a lot of new collections in ready-to-wear and at very accessible price points, which is helping us recruit younger customers".

When asked whether it has any plans to have an overseas retail presence, Narayan said this will be considered in the coming years.

"So, we are already serving our international customers through our website tanera.com, and right now we don't have any plans of opening stores in, let us say, the US or UK or other regions where there is a large Indian diaspora, but we may consider that in the coming years," he said.

Currently, online sales contribute about 6 to 8 per cent of its revenue, and are expected to increase to double-digit levels by the end of this year.