Homegrown tech sportswear brand Technosport boasts 12M units sales, to clock 1000 cr in 3 yrs

74

Activewear brand Technosport – which combines technology, fitness, and style to create sports clothes that are comfortable, breathable, and affordable – has said today that it is among the leading activewear brands in terms of sales volume in India with sales of over 12 million units of activewear garments in 2022-23. The brand has said that it is riding high on a healthy 50% + YoY growth and is optimistic about investing Rs 200 crore, and clocking sales worth Rs 1000 crore over three years.

After over 15 years of serving consumers through its offline channels, TechnoSport has entered the online marketplace through e-commerce portals and its own website. The current traction is pretty encouraging and the brand is projected to reach 100 CR GMV within a year of the digital debut.

Founded in 2007, TechnoSport, which was created with a clear purpose to improve consumers’ comfort and performance, regularly explores ongoing trends to innovate, produce, and market technologically advanced activewear at competitive pricing. The brand aspires to create a lifestyle that is active, comfortable, affordable, superior, high on technology, eco-friendly, stylish and sustainable.

The brand  has recently moved to its new office in HSR Layout in Bengaluru.

Speaking on the occasion, Puspen Maity, CEO, TechnoSport, said, “The new office will focus on the digitisation of over 5000 small and medium retailers who have contributed to TechnoSport’s growth journey. Ideas like ONDC (Open Network for Digital Commerce) will democratise e-commerce in India. Our new Bengaluru office will build the technology backbone to help our retailers be a part of this e-commerce revolution and leverage omnichannel, hyperlocal and social e-commerce opportunities.”

Maity, who also heads the modern retail and digital business, further stated, “The new office is working on building the D2C e-commerce business, EBO (Exclusive Brand Outlet) franchisee business and large format modern retail business. We aim to have over 100 exclusive brand outlets by FY 25-26.”

TechnoSport’s products feature moisture management properties, UV-protection, anti-microbial and many other performance-enhancing features which add to the comfort of the consumers. Most of these technologies have been developed by in-house R&D teams in collaboration with international technology providers and research institutions.

Speaking about the athleisure market in India, Sunil Jhunjhunwala, Co-Founder, TechnoSport, said, “India has unique problems with respect to Heat, humidity, sun-exposure, hygiene etc. New technologies in activewear can solve these problems and enhance comfort and convenience of the users. Developing these technologies suitable for Indian conditions locally has enabled us to provide these products to our consumers at competitive prices. TechnoSport aspires to be a brand that is globally recognised and locally loved while also protecting the environment through its sustainability initiatives.”

Owing to an unfavourable ecosystem for manufacturing activewear in India, the makers of TechnoSport decided to build their own manufacturing capabilities, supported by strong R&D teams.

The brand plans to invest over 200cr into a new world-class fabric manufacturing factory, which along with its existing factories, will help maintain the 50-60% CAGR for the brand in the next 3-4 years. The brand is aiming to clock a revenue of Rs 1000cr by FY 25-26.

<< Previous Myntra launches MyFashionGPT powered by ChatGPT
Next >>Company Profile: Under Armour