Home / Knowledge / News / Apparel/Garments / Tie Rack plans expansion into Indian market
Tie Rack plans expansion into Indian market
Apr '10
A London based retailer for men and women's accessories, Tie Rack, is mapping major expansion in India, as it intends to open 150 new outlets in India by 2012.

These shops will consist of a blend of both shop-in-shops and standalone outlets. Wherein the standalone outlets each, would necessitate an investment of around Rs 2-3 million, the multi-brand outlets will each call for an investment of Rs 1 million, said Jacopo Fratini, Chairman, The Rack Retail Group, UK.

The brand, which arrived in India in November 2009, by now, has launched seven standalone points of sale in Delhi, Mumbai, Bangalore, Chennai, Kolkata, Pune and Ludhiana. It also shares space in multi-branded stores like William Penn and Shoppers Stop.

According to Fratini, this year itself the company also intends to start three new stores in Kolkata and Chandigarh.

Tie Rack, famous for its ties and scarves, is looked upon as a bridge-brand; or what is called a bridge to luxury, with a collection of ties ranging from Rs 1,000 to 4,000. The brand, arrived in India, when it signed a licensing agreement with Genesis, a holding company for leading fashion retail brands.

India is the most promising market for the brand, as the country has a great deal of purchasing power, Fratini said. According to him, they are quite optimistic regarding the markets, as the brand has already succeeded in making an impression in the Indian mind-set.

Jyoti Narula, MD, Genesis Colors, stated that, in connection with pricing, styling quotient and the product categories, they have tapped very good responses. The brand in India has recently presented its line of men's accessories with men's shirts and contemporary portfolio bags. As of now, ties and cufflinks have proved to be the bestsellers.

She further said that, considering the sales per square foot, they have already generated 20 percent, in excess of the industry average and in the current year they anticipate a turnover of around Rs 200-250 million.

Narula said that, due to tradition of corporate gifting, their brand has highly benefited and gets a good amount of business too, also, many leading insurance companies and MNCs are their corporate clients.

Fibre2Fashion News Desk - India

Must ReadView All

Textiles | On 23rd Mar 2017

South Korean Samil Spinning acquires Buhler Quality Yarns

South Korean yarn producer Samil Spinning has acquired US based...

Apparel/Garments | On 23rd Mar 2017

E-retailers to pay up to 1% TCS under GST

E-retail marketplaces will need to deduct up to 1 per cent tax...

Textiles | On 23rd Mar 2017

Lanxess to expand chemical intermediates capacity

The Advanced Industrial Intermediates business unit of German...

Interviews View All

Rahuul Jashnani

‘Online economy has changed the whole dynamics of buying habits.’

C. Dhandayuthapani
Mag Solvics Pvt. Ltd

ITME 2016 exploited our full strength like never before

Smith Vaghasia
Sanado India

Online remains the best destination for shopping

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


news category

Related Categories:
March 2017

March 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Browse Our Archives


Subscribe today and get the latest News update in your mail box.
Advanced Search