Titan's IRTH ramps up digital ambitions, targets nearly half of revenue from online sales
Titan Company Limited
's newly launched bags brand is eyeing to increase its online revenue from 10 per cent to 40 per cent by the end of this fiscal year,
Manish Gupta
, CEO – fragrance and accessories division, Titan Company Limited, told ETRetail.
In the online space, the brand has an exclusive presence with
Myntra
for the next few quarters along with its own website.
"For Fastrack, 60-70 per cent of the revenue comes from online channels. Similarly, we visualise
IRTH
's online sales to be anywhere between 35-45 per cent by this fiscal year end," he said.
In the offline space, it runs 7 company-owned and company-operated outlets along with a presence in 140 departmental stores - Shoppers Stop and Lifestyle - in 25 cities.
The brand, which launched its first in October 2024, plans to foray into franchising by opening its first franchise outlet in the next four months.
"During our first phase of expansion, i.e., by this fiscal year end, we plan to open 35 stores. In FY 27, we will be adding 35 more stores, and by the end of FY 28, we plan to take the total store count to 100," he explained.
"The initial 10 stores of the brand will be company-owned and company-operated, and post that, 99 per cent of our stores will be run by franchise partners," he further added.
The brand is eyeing to open its stores in 10 cities - Delhi, NCR, Mumbai, Pune, Ahmedabad, Bangalore, Chennai, Hyderabad, Kolkata, Lucknow, and Chandigarh.
It plans to open stores at both malls and high streets.
"Currently, all our stores are in the malls, and an average store in a mall spans across 500 sq.ft and 700-800 sq.ft will be the ideal size of the stores on high streets," he said.
Further talking about the CAPEX, he added, "We invest Rs 7,000 - Rs 7,500 per sq.ft."
The brand, which claims to enjoy a 7-8 per cent repeat rate at its stores, offers 120 SKUs of bags, 20 SKUs of wallets, and 60 SKUs in additional categories in the offline space.
The brand, which has an ambitious target to clock Rs 1,000 crore revenue, is eyeing to close this fiscal at Rs 100 crore by selling 3 lakh bags.
"As per our projections, we are 80 per cent on track and will be able to reach the break-even point and Rs 500 crore revenue mark by FY 28 easily," he said.
However, highlighting the scope of growth in the segment, he said the opportunities in the category are immense.
"Currently, luggage and accessories categories stand at Rs 18,000 crore - Rs 20,000 crore per year, and within this, the handbags category is as big as Rs 6,000 crore, and only worth Rs 2,500 crore is organised. So, we have an opportunity to tap the untapped potential of the market," he explained.
"We are ready to invest massively in the future, as soon as these 10 markets where we expand our offline presence, start delivering extremely well," he further added.
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