TechnoSport, a Bengaluru-based retailer focusing in active-wear, has surpassed Rs. 300 crore in revenue for FY ’24 and plans for a robust growth of 30-40 per cent in the upcoming years, according to co-founder Sunil Jhunjhunwala. He ascribed this growth to the rising preference for organised and branded products, aggressive pricing catering to the mass market, and ambitious growth plans via both e-commerce and exclusive brand outlets.
“In the value segment, where our garments are worth between Rs. 300 and Rs. 700, we presently hold a 10 per cent market share,” Jhunjhunwala noted. “Yet, this market remains greatly fragmented with many small brands, unorganized players, and fake products. As the market combines, I foresee considerable potential for growth, potentially consolidating up to 50 per cent.”
The brand recently inaugurated its first store in Bengaluru. Further adding to the company’s expansion plans. CEO of TechnoSport, Puspen Maity, shared, “TechnoSport plans to add 7-8 new Exclusive Brand Outlets (EBOs) this fiscal year. We also aim to convert numerous existing general trade retailers into EBOs. On the e-commerce front, our brand predicts a double-digit contribution to overall sales, with online retail presently accounting for 7-8 per cent of its business.”
To support its growth initiatives, TechnoSport secured about Rs. 175 crore in its first external fundraising round from A91 Partners. Speaking about investments, Jhunjhunwala stated that the company has by now invested Rs. 50 crore in its Tamil Nadu factory, running since last year. A further Rs. 200 crore will be invested in the facility over the next two fiscal years, he added.
