Japanese lingerie brand Wacoal will invest nearly Rs20 crore in India to open 75 stores in the next five years.
Kyoto-based Wacoal, has a presence in over 66 countries and regions, including North America, Europe and Asia and will compete with companies like LaSenza, Marks & Spencer and Triumph in the country’s intimate market worth Rs17000 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 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, Sandeep Goenka, chief executive officer of Periwinkle Fashions that has partnered the brand for its Indian entry, said.
