TT bags ‘India’s Most Promising Brands 2015’ award
Commenting on this hounour Sanjay Jain, Managing Director of the company said, “It is a morale booster for us. We now know that the brand has much more potential than what we have achieved until now. It gives us an inspiration to work harder, motivation to gain more recognition and achieve new milestones.”
The company now wants to continue introducing new products under its existing portfolio. A household name, TT is well established both in and India and overseas. A fibre to fashion company, TT is listed on both NSE and BSE. It targets reaching the four digit mark in the next couple of years.
Cotton blended products for S/S ’15For this season, since TT has focused on more on high-end fabrics in categories like modal, spandex and light weight fibers. The company plans to introduce new fabrics, more colours and styles while expanding its range under casual wear category.
Elaborating on the range, Jain says, “Apart from innerwear, we do sports and casual wear. We create clothes for men, women and kids. We also have a range of boxers and gym vests. We aim to constantly introduce new products.” Targeting the middle class customers, TT aims to continue catering to the same segment instead of launching premium products. As Jain says, fashion would double in coming years. “If we are looking for premium segment, it means we are looking for a different brand. It is not in accordance with our philosophy as 80 percent of population still goes for basics and we want to fulfill their needs with an affordable price range. But it does not mean we are static in our approach. We will keep pace with the aspiration of young India,” he avers.
EBO addition and online expansionTT is sold through all retail channels including major large format stores and old traditional channels like distributors and wholesalers. It works with around 500 distributers and wholesalers, who cater to 40,000-50,000 apparel stores. “We have 25 exclusive stores too. For expansion, we are looking for exclusive and online channels as they are the fast growing at the moment. About 200 exclusive stores may come up in next two years. MBO expansion keeps happening regularly. About 70 percent of the revenue is driven by traditional channels. Online sales contribute a very small share to our business as it is still a new medium. We have our online website and have tie up with all the major players in e-commerce players,” informs Jain.
The company is expanding in the north and seeing growth in other regions as well. It is present in almost every state. “Now we are trying to consolidate our position. From business point of view, metros and Tier I cities offer more opportunities as they have huge population that certainly translates into good business,” says Jain.
With a turnover of Rs 800 crores it is looking to 10 percent growth next year. Annually, it is growing at 20 percent.