Titan expands retail ambitions with IRTH following Tanishq’s success

Following the remarkable success of Tanishq jewellery stores, Titan is now turning its sights on the accessories market with IRTH, its bags and accessories brand. The company has revealed plans to open 100 exclusive stores by FY2027, marking a bold move into the retail landscape. As part of this ambitious strategy, IRTH aims to launch 10 exclusive outlets this year in major cities, including Delhi, Mumbai, Chennai, Kolkata, and Pune.

The inaugural exclusive store, spanning 530 square feet, will open on October 3 at Phoenix Palladium in Lower Parel, Mumbai. This initial rollout includes two stores in Mumbai, two in Pune, one in Delhi, one in Kolkata, and one in Chennai. Manish Gupta, CEO of the fragrances and fashion accessories division at Titan Company, expressed optimism, stating that these exclusive outlets are projected to contribute between 15 to 20 percent of

IRTH's overall sales by March 2025

With an aggregate investment exceeding ₹150 crore, which encompasses campaigns, store development, and capital expenditures, Mr Gupta highlighted that these ten stores will serve as a foundation for establishing the brand’s customer value proposition. Since its launch in October 2022, IRTH has expanded to over 50 cities across India.

The accessories division is targeting a revenue milestone of ₹1,000 crore by FY2027, with expectations of IRTH generating approximately ₹600 crore and its sister brand Fastrack reaching around ₹400 crore.

Mr Gupta noted that the initial stores will provide valuable data to attract potential franchisees. This first phase aims to test the commercial viability of IRTH’s retail model before launching a wider franchise network. Success in these locations will determine the feasibility of reaching the ambitious target of 100 stores by 2027.

The market opportunity

IRTH's product line focuses on innovative solutions tailored to modern urban women, with bags priced between ₹2,500 and ₹6,500, and premium leather items reaching up to ₹10,995. The accessories market in India is estimated to be around ₹7,500 crore, with a significant portion still untapped.

Mr Gupta reported that IRTH has already captured a market share of 7-8% within its first year of operations and is optimistic about accelerating growth. The brand anticipates a surge in consumer demand during the forthcoming festive season, with seven new stores set to launch around Diwali. "We expect to achieve a 100% growth rate this year," Gupta concluded.

Company's  manufacturing strategy

In the next four to five years, IRTH aims to secure a 20% market share by leveraging its strong design team and supply chain capabilities, vital for adapting to evolving consumer trends. While India is renowned for its leather products, many synthetic alternatives are currently sourced from countries like China, Vietnam, and Bangladesh. IRTH is keen on utilising specific international capabilities while simultaneously developing a robust manufacturing ecosystem within India.

Mr Gupta noted a significant shift in sourcing, stating, “Initially, only 10% of our products were sourced from India. Today, that figure has increased to 40-45 percent.” In the last two years, IRTH has successfully established 175 points of sale in major department stores such as Lifestyle and Shopper's Stop.