MUMBAI: Wacoal, the Japanese premium lingerie brand, announced its plans to boost investment in India. As a part of its global growth strategy, the brand will be investing around Rs 100 crore over the next 3 years. To increase the volume of business, the company plans to grow its store strength from 12 stores to 70 exclusive stores and 80 shop-in-shop stores, adding up to 150 stores pan India.
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 10 top cities taking advantage of existing operation network in all 4 regions; West (Mumbai), North (Delhi), South (Chennai), and East (Kolkata). As next big steps, the brand will be foraying into tier 1 and tier 2 regions across 30 cities including Nashik, Rajkot, Prayagraj, Nagpur, and Indore.
Wacoal also intends to advance its sales in India through the existing partnership with e-commerce platforms, Myntra, Jabong, Tata Cliq and its own website. This will be accompanied by an intensive cross-platform marketing and PR campaign.
Speaking on the announcement Wacoal Corp.representative director, president and corporate officer Tomoyasu Ito 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.”
Headquartered in Mumbai, Wacoal entered the Indian market in 2015 through a joint venture with Periwinkle Fashions Private Limited the flagship company of the Tainwala Group. Wacoal India Pvt Ltd is a joint-venture between Periwinkle and Wacoal International Hong Kong Co Ltd.
