TA Invests $140m In W Fashion Brand Owner

TA Invests $140m In W Fashion Brand Owner

City-based TCNS Clothing Company, owner of brands such as W, Aurelia and Wishful, has raised 140 million US dollar from TA Associates, a US-based private equity firm, by selling a stake of around 40 per cent. The move has led to the exit of Matrix Partners, which held 15-20 per cent stake in the company.

“The investment by TA is providing some liquidity for other stakeholders, including management, who are rolling over the majority portion of their stake,” Anant Daga, CEO of TCNS said.

TCNS, with sales of around 120 million US dollar in 2015-16, will look to add 700 stores and triple its revenue in five years, Daga said. The company operates 300 stores at present, including some in markets such as Sri Lanka and Mauritius.

The domestic women’s apparel market is expected to touch 20 billion US dollar in 2020, up from 13 billion US dollar in 2015, at a CAGR of 10 per cent, according to Avendus Capital. The branded part of the market, around 17 per cent in 2015, is predicted to exceed 38 per cent over the next 10 years.

TA Associates has raised 24 billion US dollar in capital and has invested in about 460 companies around the world.

-Apparel Talk, Indian Apparel