Japanese luxury lingerie brand Wacoal will invest nearly Rs 20 crore in India to open 75 stores in the next five years.
The lingerie brand made its much awaited debut in India by opening its first store in Mumbai recently. Wacoal presents its complete collection at High Street Phoenix premium retail destination and one of the best inner-city locations in Mumbai in a new design. Having cemented a leading position in South-East Asia's high-end lingerie market, Wacoal as a group last year decided to actively extend its brand overseas using India's formidable and international position.Japanese luxury lingerie brand Wacoal will invest nearly Rs 20 crore in India to open 75 stores in the next five years.The lingerie brand made its#
Spread over 691 square feet of space, the store will operate in a lifestyle store format. While offering a fabulous fit, comfort and exemplary service synonymous with Wacoal Internationally, the collection available at the store has been exquisitely created using a blend of unique design and creativity, coupled with the innovation and quality. Dedicated to providing beautiful, well fitted high quality lingerie, the collection includes trendy everyday lingerie solutions along with indulgent, yet accessible up to the minute fashion pieces as well.
Kyoto-based Wacoal, established in 1949, has a presence in over 66 countries and regions, including North America, Europe and Asia and will compete with companies such as LaSenza, Marks & Spencer and Triumph in India's intimate wear market worth Rs17,000 crore.
"India has always been on our radar and the luxury retail sector in India, especially in cities such as Mumbai has been growing tremendously over the past decade," Yuzo Ide, Director, Vice President and Corporate Officer, Wacoal Corp. said.
Priced at between Rs 2,000 and Rs 4,000, the brand will be will also be sold on online platforms and other multi-brand outlets.
"With its knowledge, skill and creativity, Wacoal has launched numerous product innovations in markets across the world, which are now among the classics of every well-stocked woman's wardrobe, said Sandeep Goenka, Chief Executive Officer of Periwinkle Fashions that has partnered the brand for its Indian entry. (SH)
Fibre2Fashion News Desk - India
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