According to a report, Titan’s bag division, Hector, is planning to reach a revenue of Rs 1,000 crore by FY 27. To achieve this goal, the company has announced expansion plans for its exclusive brand outlet IRTH. Titan plans to expand IRTH by 20 stores in the current fiscal year and increase its existing store count by 50-60% over the next 2-3 years. Additionally, the company is also considering opening standalone stores for Hector’s other brands such as Winnipeg and ROTHENSTEIN.
Hector is expected to benefit from the rising demand for branded bags and luggage in India. The company’s focus on leveraging e-commerce channels, strengthening its offline presence, and expanding its product offerings to cater to the growing demand is expected to drive its growth. Titan has reported a significant rise in demand for its bags, with sales growth of over 50% during the pandemic, driven by changing consumer behavior towards investing in premium and quality products. With the expansion plans and growth strategies, Hector aims to increase its share in the bag market and become a leading brand in the country.