After watches, jewellery, eyewear and perfumes, Titan Co. Ltd. now wants to sell sarees.
India's largest jewellery and watch retailer is entering the women's wear segment through a handloom apparel store in Bengaluru, thrown open to the public on Tuesday, under the Taneira brand.
Catering to the mid- to premium end of the market, the prices of a Taneira saree will start at Rs 2,000 and go as high as Rs 2 lakh.
We feel there is an under-served customer and an unorganized market, and we can make a difference in this (handwoven apparel) category. There are around 400 geographic clusters and half a million weavers in the country. We will ensure we are giving space to each and every crafts form.Ajoy Chawla, Senior Vice-President, Strategy & Business Incubation, Titan
Chawla said Titan aims to tap its existing customer base among woman. āWe already have a large number of women customers. It is the same Raaga woman, Tanishq woman and now it is the Taneira woman,ā he said.
The 6,000-square-feet store in Bengaluru houses around 3,500 pieces of clothing, including sarees, lehengas, stoles, dupattas and fabric from 20 different clusters in India.
Titan plans to remain in a pilot mode for at least a year and will roll out more such stores in other parts of the country. The next pilot store will open at Jayanagar in South Bengaluru.
āWe want to see how the customers respond and understand whether we have got the category right. More importantly, we want to see whether we have a sustainable proposition, if there is a business model here that makes business sense for us? Only then we will conclude to expand and roll out,ā Chawla said.
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