Titan aims to dominate in Rs 6,000 crore women's handbag market
'We anticipate the women's handbag market to be about Rs 6000 crore annually. About Rs 2,600 to 2,700 crore would be organised and the balance is something which we don't know. And this Rs 2,600-2,700 crore consists of all international brands, domestic brands, D2C brands and so on,' said Gupta.
He added, 'It's a very fragmented market and so if you look at the brands, the average size of the brand may not be more than Rs 200-300 crore at most. This reflects that this category has not matured, is underserved, underpenetrated, and needs a strong player to come and start transforming the industry.'
Titan expects Rs 600 crore to be contributed by the IRTH brand, while the balance Rs 400 crore to come from the Fastrack portfolio of handbags. To increase its presence, Gupta said that they would be ramping up their online as well as retail presence. As of now, 60-70% of the revenue for Fastrack brand comes from online channels while for IRTH brand, this number is smaller at about 10%. Titan is also looking to rope in franchises to expand the retail presence of IRTH.
'We expect the brand's first franchise store to open in the next four months. Overall, we are looking to have 100 stores for the brand by FY28. Currently, we have seven company-owned stores. Our key focus in the first phase of this retail expansion will be the top ten metros,' said Gupta.
He informed that while most leather bags are made in India, the PU bags are mainly imported from China. 'We are evaluating the options to make PU bags in India…Once we get to a scale where it becomes lucrative for us to make these bags in India, we will consider it,' said Gupta.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
New Indian Express
28 minutes ago
- New Indian Express
GST notices based on UPI data: Tax department
BENGALURU: Following reports of notices issued to small traders by the Commercial Tax Department, the state government clarified on Friday that the action was based on data collected from Unified Payments Interface (UPI) service providers to ensure compliance with Goods and Services Tax (GST) laws. Under the GST Act, in force since July 1, 2017, suppliers with an annual turnover exceeding Rs 40 lakh (for goods) or Rs 20 lakh (for services) are required to register for GST. This turnover includes both taxable and exempt goods and services, although tax is applicable only on taxable items. The department said while essential items like bread are exempt from GST, packaged snacks attract a 5% tax. It said UPI-based transaction data from 2021–22 to 2024–25 showed that many traders had received over Rs 40 lakh via UPI alone, excluding cash and other payment methods, indicating even higher total turnover. Based on this data, the department issued notices to traders. ENS
United News of India
38 minutes ago
- United News of India
Selling SBI shares worth Rs 25000 cr part of privatisation: BEFI
Thiruvananthapuram, July 12 (UNI) Bank Employees Federation of India has alleged that the Centre's move to sell shares of State Bank of India (SBI) worth Rs 25,000 crore SBI) is an open attempt to privatize the bank in a phased manner sacrificing national interests. "In 2017, the bank had sold 522 million shares. This reduced the government's stake in the bank to 56.92 percent. Now, with the completion of the targeted share sale, the government's stake will diminish below 55 percent," BEFI vice president Saji Varghese said. "The sale of shares through qualified institutional placement has been reported by national media," he added. "Despite the vacancies of about one lakh employees and officers, the outsourcing of jobs and the deployment of daily wage workers without making them permanent is a prelude to privatization... After the budget presentation, the Union Finance Minister had announced that government would sell shares of public sector banks including SBI. Other public sector banks are also preparing for share sale" he said. The privatization of the country's largest public sector bank, SBI, will have far-reaching consequences. Public sector banks serve as a protective shield for the Indian economy. It is this protective shield that is being undermined through bank privatization, he stated. "As banks come under the control of corporates, services for the common people will get affected and services will be limited to the elite class," he added. The SBI plans to support loan growth, strengthen its balance sheet and meet regulatory requirements. It's also the first time since 2017 that the lender, majority owned by the government, tapped the equity market. UNI DS AAB RKM
India.com
43 minutes ago
- India.com
Meet world's poorest man alive, once top trader, got 5-year sentence, caused Rs 49500000000000 loss to..., his name is...
Meet world's poorest man alive, once top trader, got 5-year sentence, caused Rs 49500000000000 loss to..., his name is... When we think of the richest individuals in the world, names such as Elon Musk, Mukesh Ambani, Gautam Adani, and Jeff Bezos come to our minds. But have you ever wondered whose world's poorest person is? Well, pictures of huts, an empty steel bowl, and torn clothes are associated with the 'beggar' word. At first glance, Jerome Kerviel might seem like an ordinary man walking around the streets of Paris. However, his story is not a normal one! Instead of poverty being shown in his clothing, food, or home, Jérôme Kerviel carries a financial burden so large that it caused a global market shock. And ultimately, he earned the title of being 'the world's poorest man.' Who is Jérôme Kerviel? In this article, we are talking about Jérôme Kerviel, a Frenchman who is now considered to be the world's poorest and most indebted person. He is buried under a debt of nearly Rs 4.95 lakh crore (around $6.7 billion). Being poor does not always mean empty pockets. Born on January 11, 1977, in a small French town called Pont-l'Abbé, Jerome hailed from a modest family. Speaking about his personal life, Jerome's mother was a hairdresser, while his father worked as a blacksmith. Jérôme was a good student. He completed his master's degree in Finance from Lumière Université Lumière Lyon 2. Soon after completing his studies, he was hired by Société Generale, which is the third-largest bank in France. At the bank, he worked as a junior derivatives trader. However, his knowledge of technology and excellent trading ability led him to cover millions of dollars in deals. He was always part of the bank's Delta One division, which deals with share trading, algorithms, and investments. Jérôme had a vast knowledge of computer programming and trading systems; however, he misused this knowledge and expertise, turning it into wrongful use. Jérôme had been misusing vulnerabilities in the bank's internal systems to perform arbitrage. During this period, he traded billions of dollars utilizing the company's capital. At first, he made huge profits, executing trades worth almost $73 billion in a calendar year. It is noted that the bank remained aware of this practice for a very long time, as Jérôme used technology to hide every irregularity. However, in 2008, the fraud became apparent, and an investigation began. On January 19, 2008, the scandal was revealed, shocking the bank and everyone around it. Upon inquiry into the controversy, it was determined that Jérôme's unauthorized trading incurred an approximate loss of $7.2 billion, which is over Rs 4,95,000 crore, to the bank. This amount has become a debt burden against him, making him one of the poorest people in the world. After the incident, Jérôme received a 3-year prison sentence in 2015. He pleaded guilty to several charges, including breach of trust, fraud, and unauthorized access to computer systems. While his sentence is completed, the debt burden still remains today. Upon his release from prison, Jérôme is trying to live a life of simplicity, but the weight of debt still leaves him one of the poorest people in the world. Some argue he didn't act with intent; others would say he acted out of greed and took advantage of the system. Here's the bottom line: a man who once traded millions on a bank's trading desk is now labeled as the poorest person in the world.
