TechnoSport eyes 10% share in activewear over the next five years
Bengaluru-based apparel manufacturer TechnoSport aims to seize a significant 10 per cent share of the burgeoning activewear market in India over the next five years, while simultaneously striving to achieve a revenue milestone of Rs 1,000 crore within the same period.
In a recent press release, TechnoSport disclosed, the company has achieved an impressive average annual growth rate ranging between 30 per cent and 40 per cent over the past three years. Notably, the company successfully retailed 12 million individual garments in the fiscal 2023, with projections soaring to 15 million garments by FY24 –end.
The inauguration of an ultramodern activewear manufacturing facility in Erode, Tamil Nadu, marks a significant stride in TechnoSport's expansion agenda. With aspirations to establish one of the largest manufacturing units in South Asia, the facility is poised to operate as a beacon of environmental sustainability and innovation, emphasising research and development initiatives.
TechnoSport has also inked an MoU with the Tamil Nadu Government to foster job creation and economic prosperity in the region. The company's investment of Rs 150 crore into the Erode facility is anticipated to generate 5,000 employment opportunities within the state over the next five years.
Venturing into the realm of e-commerce last year, TechnoSport is committed to leveraging digital platforms for continued expansion. The company eyes growth prospects in key international markets such as South Africa, Singapore, and the Middle East. In anticipation of its revenue targets, it is gearing up to unveil exclusive brand outlets and franchise operations, to further augment its market presence and profitability.
