The concept of athleisure took off in the 2000s, evolving into a global trend during the pandemic as fitness became a lifestyle choice. Today, the activewear market is a booming $373.07 billion industry, projected to reach $720.25 billion by 2034. However, India's $16.9 million market faces challenges due to a reliance on expensive imported products and a fragmented domestic landscape.
Despite an anticipated growth rate of 11.8% to reach $41.2 million by 2033, the Indian market struggles with high-quality activewear being out of reach for many consumers. A significant issue is the heavy dependence on imports for both finished products and essential materials, which drives up costs and complicates supply chains.
TechnoSport, founded in 2007, aims to address these challenges by focusing on local manufacturing and fabric development. CEO Puspen Maity emphasizes that high-performance activewear requires advanced technical expertise, which has traditionally been lacking in India's textile industry.
Instead of competing with established brands, TechnoSport has invested in building its own infrastructure. By collaborating with international partners and developing in-house capabilities, the company has reduced its reliance on imports and gained control over key production stages, from yarn processing to fabric engineering.
This vertical integration allows TechnoSport to innovate and price its products competitively. The company has developed fabrics that wick moisture, prevent odor, and offer UV protection, all while keeping prices affordable at around ₹450-500 per garment. This strategy aims to make high-performance activewear accessible to a broader audience.
TechnoSport's manufacturing facility in Tiruppur, backed by a ₹200 crore investment, enhances its ability to control fabric quality and reduce costs. By internalizing critical processes, the company avoids supplier mark-ups and improves responsiveness to market demand.
The pandemic has shifted consumer behavior towards sustained fitness and wellness, validating TechnoSport's focus on affordable, functional apparel. The company experienced significant growth, with a 70-90% increase in 2022, aided by its localized manufacturing capabilities.
As TechnoSport expands its distribution network, it is also enhancing its omnichannel presence, including exclusive brand outlets and a strong digital footprint. By investing in technology and data-driven demand planning, the company aims to align production with consumer needs more effectively.
With a projected revenue growth from ₹75 crore in FY20 to nearly ₹600 crore by FY26, TechnoSport is well-positioned to capitalize on India's growing activewear market. The company’s model, focused on manufacturing depth and affordability, aligns perfectly with the evolving lifestyle preferences of Indian consumers.
