Sports and active wear brand TechnoSport saw its revenue cross the Rs 300 crore mark for the first time in the 2024 financial year. The Bengaluru based business expects to report between 30% to 40% growth in the coming few years as the market becomes increasingly organised.
“In the value space, for garments between MRP of Rs 300 to 700, we dominate a 10% market share,” TechnoSport’s co-founder Sunil Jhunjhunwala told ET Retail. “However, the market is very fragmented. There are many small brands, unorganised players, and fakes. Over some time as the market gets more organised, I think 50% of this will consolidate.”
Along with the consumer shift towards branded activewear products, TechnoSport also expects its expansion plans to drive growth. The business is widening its reach across India with an omni-channel approach. In the 2025 financial year, TechnoSport plans to open between seven and eight exclusive brand outlets and plans to convert some of its current general trade retail sales points into exclusive brand outlets as well.
TechnoSport describes its pricing as competitive and aims to cater to the mass market. The business reported profits totalling Rs 29.26 crore in the 2023 fiscal year on a revenue total of Rs 287 crore, the Economic Times reported.
Copyright © 2024 FashionNetwork.com All rights reserved.
