Tata Group's Titan Company Ltd has drawn up aggressive expansion plans across its various brand verticals, especially jewellery vertical Tanishq and saree label Taneira this year, a top official said.
The company is also planning to launch its exclusive ladies' handbag brand store 'IRTH' sometime later this year, Titan's Managing Director C K Venkataraman said.
Titan is a joint venture between the diversified conglomerate Tata Group and the Tamilnadu Industrial Development Corporation (TIDCO).
Venkataraman was talking to reporters after unveiling one of the company's Helios watch stores along with the 59th jewellery store Tanishq and the 7th Taniera store at Pondy Bazaar, here.
Taniera offers the best of Indian sarees under one roof. It offers handcrafted sarees along with a range of ready to wear blouses, kurtas, short tops among others, the press release said.
The launch of the new brand outlets today marks a significant milestone in Titan's ongoing commitment towards aggressive retail expansion in FY24-25, particularly in Tier I, II and III geographies. The recent launches have expanded Titan's existing portfolio, taking the overall exclusive brand retail touchpoints in the state to 98 across the state, he said.
Briefing reporters, Venkataraman said the company was retailing Taniera which showcases a range of sarees from Kancheepuram, Banaras, and Bengal Silk among many others, across geographies.
The range of the sarees sold at Taniera is from Rs 1,300 to Rs 3 lakh, he said.
"Tanishq is a 25-year-old jewellery brand. Our first store was launched in Cathedral Road, Chennai… Taniera is our fourth showroom in Chennai and Tanishq is the 20th showroom in Chennai," he said.
Responding to a query, he said the company has drawn up plans to open 40-45 showrooms of Taniera and 40-45 showrooms of Tanishq this year. "We are also planning to launch women's handbags' exclusive brand store IRTH," he said.
Asked about the investments, he said that 90 per cent of the stores are franchises.
"We are thrilled to expand our retail footprint in Chennai, a city that is both a cultural hub and a key growth market for us. The vibrant and fast growing consumer base in Chennai has shown a strong affinity of our brands, which has driven us to deepen our presence in the region," he said.
"Our new stores in Pondy Bazaar reflect our commitment to curate high-quality products and exceptional shopping experiences for our customers," he said.
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