Titan's bags and accessories brand IRTH plans 100 stores by FY'27, to open first store in Mumbai

Manish Gupta, CEO, Fragrances and Fashion Accessories Division, Titan Company, IRTH.

IRTH, the bags and accessories brand of lifestyle company Titan, plans to open 100 stores by FY2027.

IRTH is going in for a massive retail expansion and plans to open 10 exclusive brand outlets this year as part of the first phase in major cities like Delhi, Mumbai, Chennai, Kolkata, and Pune in FY25. The company is opening its first exclusive store, measuring 530 sq ft, on October 3 in Phoenix Palladium, Lower Parel, Mumbai.

"The rollout will include two stores in Mumbai, two in Pune, one in Delhi, one in Kolkata, and one in Chennai. These exclusive brand outlets are expected to contribute 15 to 20 percent of overall IRTH sales by March 2025," Manish Gupta, CEO, Fragrances and Fashion Accessories Division, Titan Company, IRTH told Moneycontrol.

The customer value proposition (CVP) is to offer organised styling solutions to modern women for an urban lifestyle.

“So far, the aggregate investment is more than Rs 150 crore. It includes campaigns, stores and capex. These 10 stores will establish our customer value proposition,” said Gupta.
Since its launch in October 2022, IRTH has spread to over 50 cities through 130 large format stores.

Rs 1,000-cr revenue mark

The accessories division hopes to cross the Rs 1,000- crore revenue mark by FY27. “We envisage IRTH to touch roughly Rs 600 crore and Fastrack to hit approximately Rs 400 crore,” he explained.

“Having a robust data from our first stores will make IRTH an attractive proposition for potential franchisees,” Gupta added.

“The first phase of expansion involves establishing these 10 stores as a testing ground to assess the commercial viability of its retail model before launching a broader franchise network.

The goal is to open 100 stores by 2027, contingent on the success of the initial locations,” said Gupta.

IRTH's product line focuses on innovative solutions for everyday challenges, with a price range for bags between Rs 2,500 and Rs 6,500 and premium leather items reaching up to Rs 10,995. The market opportunity for IRTH is substantial, with the accessories industry estimated at around Rs 7,500 crore, of which a third is currently untapped.

Growth trajectory

Gupta said that, in just over a year, the company has already captured a 7-8 percent market share and believe "we can accelerate this growth".

IRTH’s expansion plans coincide with an anticipated surge in consumer demand during the upcoming festive season. With the launch of seven new stores around Diwali, the brand is optimistic about generating strong sales momentum. “We expect to achieve a 100 percent growth rate this year,” Gupta concluded.

The brand's goals are ambitious. It plans to secure a 20 percent market share within the next 4-5 years. To achieve this, IRTH is leveraging its strong design team and supply chain capabilities, which are vital in responding to consumer trends and preferences.

While India is known for its leather products, many synthetic alternatives, particularly polyurethane (PU), are predominantly sourced from countries like China, Vietnam, and Bangladesh. Recognising this, IRTH is tapping into the specific capabilities and skills available in these international markets while simultaneously developing a robust manufacturing ecosystem within India.

“Our journey is just beginning. We’ve been operational for under two years. Initially, only 10 percent of our products were sourced from India. Today, that figure has increased to 40-45 percent,” said Gupta.

In its last two years, IRTH has established 175 doors in department chains like Lifestyle and Shopper's Stop. IRTH started with Shopper's Stop for the first six months between October and March and then expanded to Lifestyle.