TechnoSport Unveils Rs 200 Crore Expansion Plan with 300 New Stores
Activewear brand TechnoSport announces a Rs 200 crore investment to open 300 exclusive outlets across India over the next two years. The company plans to focus 30% of new stores in Eastern India. TechnoSport is also investing Rs 100 crore in a new manufacturing facility in Odisha. The brand aims to achieve Rs 600 crore revenue by FY'26 and Rs 1,000 crore by FY'27. TechnoSport has been growing at a 40% CAGR since 2022 and plans to launch a winter wear line this fiscal year.
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Activewear brand TechnoSport has announced an ambitious expansion strategy, planning to invest Rs 200 crore to open 300 exclusive outlets across India over the next two years. This move signifies a major push in the company's retail presence and its commitment to capturing a larger share of the growing Indian active and sportswear market.
Expansion Details
TechnoSport recently inaugurated its 21st exclusive store in Kolkata, bringing its total count in West Bengal to two. The company has outlined that Eastern India will be a key focus area, accounting for 30% of the planned new stores. This regional emphasis underscores TechnoSport's strategy to strengthen its foothold in diverse markets across the country.
Growth Trajectory
The company has been on a strong growth path, reporting an impressive 40% compound annual growth rate since 2022. This growth has been primarily driven by a multi-channel approach, leveraging modern retail, e-commerce, and brand stores. The expansion plan is expected to further accelerate this growth trajectory.
Manufacturing Investment
In addition to its retail expansion, TechnoSport is making significant investments in its manufacturing capabilities. The company plans to invest Rs 100 crore in a new manufacturing facility in Odisha. This new plant will complement TechnoSport's existing manufacturing unit in Tirupur, enhancing the company's production capacity to meet the growing demand.
Financial Targets
TechnoSport has set ambitious financial goals for the coming years:
| Fiscal Year | Target Revenue |
|---|---|
| FY'26 | Rs 600 crore |
| FY'27 | Rs 1,000 crore |
These targets reflect the company's confidence in its growth strategy and the potential of the Indian activewear market.
Product Diversification
While maintaining its core focus on activewear, TechnoSport is also planning to diversify its product range. The company has announced plans to launch a winter wear line in the current fiscal year, potentially opening up new market segments and revenue streams.
Market Outlook
TechnoSport's expansion plans come at a time when the Indian active and sportswear market is showing significant potential. The market is currently estimated at Rs 4,500 crore, indicating substantial room for growth and competition.
As TechnoSport embarks on this ambitious expansion journey, it will be interesting to see how the brand navigates the competitive landscape and capitalizes on the growing demand for activewear in India. The success of this expansion could potentially reshape the company's market position and influence the broader activewear industry in the country.
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