TechnoSport crosses Rs 300 cr revenue mark; plans 7 EBOS this fiscal, ET Retail

New Delhi: Bengaluru-based sportswear retailer TechnoSport has crossed Rs 300 crore revenue in fiscal 2024 and is eyeing double-digit growth of 30-40 per cent in the next few years, the company’s co-founder Sunil Jhunjhunwala told ETRetail in an interview.

He cited the company’s shift towards organised and branded products, the company’s competitive pricing solutions tailored to the mass market and solid expansion plans through e-commerce and exclusive brand outlets as key factors driving this growth.

“In the value space, for garments retailing between Rs 300 and Rs 700, we dominate with 10% market share. However, the market is very fragmented. There are a lot of small brands, unorganised players and counterfeits. Over time, as the market becomes more organised, I think 50% of that will consolidate,” Jhunjhunwala said.

TechnoSport’s revenue for fiscal 2023 was Rs 287 crore and profit was Rs 29.26 crore.

The brand recently opened its first store in Bengaluru. Adding to the company’s growth plans, Puspen Maity, CEO, TechnoSport, said the retailer plans to add a total of 7-8 new EBOs this fiscal. The retailer is also working on converting some of its existing general trade retailers into EBOs. In terms of online sales, the brand expects a double-digit contribution from e-commerce. Currently, online retail contributes 7-8 per cent of the business.

To support its expansion plans, the 17-year-old sportswear maker has raised around Rs 175 crore in its first external fundraising from A91 Partners.

Commenting on its investments, Jhunjhunwala said TechnoSport has already invested Rs 50 crore in its plant in Tamil Nadu, which was commissioned last year. Over the next two fiscal years, the retailer will invest a total of Rs 200 crore in the unit, he added.