Titan eyes ₹1000 crore from women’s bags segment
Titan Company said the organized market for women’s handbags in India would cross ₹3,000 crore in the next five years and by then, the company would have a revenue share of ₹1,000 crore in the segment.
The company announced its foray into the women’s handbag segment, a new lifestyle category, by introducing the brand, IRTH. It would compete with brands such as Lavie, Baggit and also international labels.
Manish Gupta, CEO and VP Fragrances & Fashion Accessories Division, Titan Company told The Hindu that the women’s handbag segment offered a fairly large opportunity for the company as the market mostly remained underpenetrated currently.
“We see an attractive opportunity in women’s bags category for us to explore. It is sizeable and has a lot of whitespaces,’‘ he said.
The country’s unorganised ladies’ handbag market is pegged at more than ₹4,500 crore of which the organised portion at present accounts for ₹1,600 crore and is expected close to double in the next five years, as per Mr. Gupta.
Manish Gupta, CEO and VP Fragrances & Fashion Accessories Division, Titan Company told The Hindu that the women’s handbag segment offered a fairly large opportunity for the company as the market mostly remained underpenetrated currently.
“We see an attractive opportunity in women’s bags category for us to explore. It is sizeable and has a lot of whitespaces,’‘ he said.
The country’s unorganised ladies’ handbag market is pegged at more than ₹4,500 crore of which the organised portion at present accounts for ₹1,600 crore and is expected close to double in the next five years, as per Mr. Gupta.
