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Matrix Partners invests Rs 600mn in TCNS Clothing
27
Oct '11
Matrix Partners India announced an investment of Rs. 60 crores in TCNS Clothing Company Pvt Ltd as the sole investor in the first institutional round of funding. The company, promoted by Mr. O.S Pasricha and Mr. A.S Pasricha, manufactures and markets W, the leading contemporary women's wear brand in the country.

At present, the brand is marketed by around 100 exclusive brand outlets in more than 40 cities and over 600 points of sales across all leading multi brand outlets and large format stores. The brand has been on a high growth trajectory, registering a growth of more than 50% year-on-year.

The brand grew out of the need to offer the contemporary Indian woman, innovative ready-to-wear that combines fashion and functionality. With a unique design sensibility, the Indian Salwar-Kameez was transformed into its chic & urbane - yet comfortable form. This was the first such attempt at reinventing Indian fashion.

W offers fashion leadership in the segment through a signature 'Fusion' design language which reflects an Indian essence imbued with modernity. At present the brand is marketed through around 100 exclusive brand outlets in more than 40 cities and over 600 point of sales across all leading multi brand outlets and large format stores. The brand has been on a high growth trajectory, registering a growth of more than 50% year-on-year.

“The women's apparel market is at an inflection point and W is well poised to capitalise on the opportunity. In Matrix we found a meeting of minds and ambition. W will benefit greatly from their market knowledge and the management expertise of the partners, especially Amit Kapoor who has joined our Board.” said OS Pasricha, Chairman, TCNS Clothing Company Pvt. Ltd.

Fibre2fashion News Desk - India

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