Comments
The Titan Company has forayed into the women’s handbag category with the launch of its latest brand IRTH.
IRTH will be competing with brands such as Lavie and Baggit. “Only one-third of the approximately ₹4,500 crore women’s handbag business is organised,” according to Manish Gupta, Chief Executive Officer and VP, Fragrance and Accessories Division at Titan Company Ltd . The company’s bags are priced between ₹2,595 to ₹5,995, catering to the mid-priced market.
In five years Titan intends to open around 100 brand-exclusive stores, with the first store expected to come up in March 2023. “We will be selling our products online and offline. But before opening the exclusive stores, we plan to sell our products online and exclusively at Shoppers Stop stores for the initial six months,” Gupta added.
Saw huge potential
In addition to IRTH, Titan also sells handbags under the Fastrack label targeted at the teen market. CK Venkataraman, Managing Director, Titan Company, said, “We saw huge potential in the women’s bags category and are delighted to explore the opportunity with IRTH. The brand represents the values and trust of Titan and our understanding of the women consumers and their evolving needs.”
Underserved market
The company expects its latest venture to add ₹1,000 crore to its overall revenue in five years. “This market is highly penetrated but under-served. With both IRTH and Fastrack, we want to capture 30 per cent of the market share in five years. So basically when one thinks of buying a bag, the name that comes to mind should be IRTH. That is the aim.”
IRTH has a product portfolio ranging from workbags, tall totes, shoulder bags, hand-helds, slings, cross body, clutches and wallets. Delights and organisers are the categories unique to IRTH.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.