Japanese lingerie brand Wacoal to step up store presence in India
By Retail4Growth Team | April 02, 2019
The premium lingerie brand will be investing around Rs 100 crore over the next 3 years and plans to grow its store strength from 11 stores to 70 exclusive stores and 80 shop in shops, adding up to 150 stores pan India, while foraying into tier 1 and tier 2 regions across 30 cities.
Wacoal, the Japanese premium lingerie brand, has announced its plans to boost investment in India as part of its global growth strategy. The brand will be investing around Rs 100 crore over the next 3 years. To generate increase business volumes, the company plans to grow its store strength from 11 stores to 70 exclusive stores and 80 shop in shop stores, adding up to 150 stores pan India, the company said in a statement.
In addition to setting up more stores in the existing markets i.e. Mumbai, Delhi, Pune, Chennai, Bangalore and Kolkata, Wacoal plans on aggressively focusing on the 10 top cities taking advantage of its existing operation network in all four regions of West (Mumbai), North (Delhi), South (Chennai) and East (Kolkata). As part of its next big plans, the brand will be foraying into tier 1 and tier 2 regions across 30 cities including Nashik, Rajkot, Allahabad, Nagpur and Indore. Wacoal also intends to advance sales in India through the existing partnership with e-commerce platforms, Myntra, Jabong, Tata Cliq and their own website wacoalindia.com. This will be accompanied by an intensive cross platform marketing and PR campaign.
Speaking on the announcement, Tomoyasu Ito, Representative Director, President and Corporate Officer of WacoalCorp., said, "We have seen an exponential growth seen in the Indian market since Wacoal's entry in 2015. With this expansion, we aim to explore its full potential, and further solidify our position as a leading entity in the country's luxury lingerie market. Our presence in additional metros will introduce a wider audience to the fit and comfort of our innerwear, crucial elements in the life of the modern woman. Our stellar success since launch has rapidly established Wacoal as an indispensable part of India's innerwear scene, showcasing India as a mature market with a desire for Wacoal's innovative, timeless collections."
Currently present in Indian market through 10 exclusive stores across all major metros, Wacoal will expand its EBO presence via 30-40 stores by 2019.
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