Noel Tata challenges Mukesh Ambani weeks after Ratan Tata's death as company launches new brand in market, it is...

Always the name for innovation and legacy, Tata Group is now entering the vibrant world of ethnic wear with a brand-new venture: Taneira. It is a new venture from Titan, a household name for its exquisite watches and trusted accessories like jewelry and eyewear, including the iconic Tanishq.

Taneira is a new brand for Titan, targeting the rapidly growing women's ethnic wear market. The brand comes with a rich collection of Indian ethnic attire, from sarees and kurtas to others, designed to appeal to the modern woman who craves elegance and authenticity. Taneira is not selling clothes; it is selling the space where tradition meets contemporary fashion, something unique yet rooted in Indian culture.

Currently, Taneira occupies a humble 2% of the market, but its ambitions are not small. The company intends to increase its range to include pashmina stoles, dupattas, unstitched kurtas, and lehengas, which it expects to achieve a 10% market share within three years. CEO Ambuj Narayan emphasizes that sarees will remain Taneira's crown jewel, offering women a refreshing yet affordable option in ethnic clothing.

The company provides an incredible range of sarees that go as high as ₹3 lakh, targeting different sensibilities and wallets. Its aggressive expansion path also envisages opening 15-20 stores every year as it reaches to target 85 outlets by the end of 2024-25. The company has plans to grow to 127 stores in 2026-27. These measures would enable Taneira to generate ₹1,000 crore in yearly revenue, establishing it in the top tier of a market where competition is strong.

This is a very risky move at a critical moment for the Tata Group. In October, the diversified conglomerate bid farewell to its iconic Chairman Emeritus, Ratan Tata, who died aged 86. After the death of his half-brother, Noel Tata was selected to head Tata Trusts, the charity group that owns 66% of Tata Sons, bringing him under the umbrella of Tata's ₹34 lakh crore group.

The Tata Group was nothing but a journey by 1868, beginning from when Jamshedji Tata transformed a failing oil mill into a thriving cotton factory that over time has grown into over 100 companies operating successfully in more than 100 countries. Today, with its market cap of $403 billion, the group will pride itself on Taneira, as this stroyed legacy is not continuing, but evolving and embracing its horizons while staying behind to its roots.