Wacoal, the Japanese premium lingerie brand, has announced its plans to boost investment in India. As a part of its global growth strategy, the brand will invest around Rs 100 crore over the next three years.
To generate an increase in the volume of business, the company plans to grow its store strength from 12 stores to 70 exclusive stores and 80 shop-in-shop stores, adding up to 150 stores pan India.
In addition to setting up more stores in the existing markets, i.e. Mumbai, Delhi, Pune, Chennai, Bangalore and Kolkata, Wacoal plans on aggressively focusing on 10 top cities, taking advantage of the existing operation network in all four regions such as West (Mumbai), North (Delhi), South (Chennai) and East (Kolkata). As next big steps, the brand will foray into to tier 1 and tier II regions across 30 cities, including Nashik, Rajkot, Allahabad, Nagpur and Indore. Wacoal also intends to advance their sales in India through the existing partnership with e-commerce platforms, Myntra, Jabong, Tata Cliq, and their own website wacoalindia.com. This will be accompanied by an intensive cross-platform marketing and PR campaign.
Tomoyasu Ito, Representative Director, President and Corporate Officer of Wacoal Corp., said, "We have seen an exponential growth seen in the Indian market since Wacoal's entry in 2015. With this expansion, we aim to explore its full potential, and further solidify our position as a leading entity in the country's luxury lingerie market. Our presence in additional metros will introduce a wider audience to the fit and comfort of our innerwear, crucial elements in the life of the modern woman. Our stellar success since launch has rapidly established Wacoal as an indispensable part of India's innerwear scene, showcasing India as a mature market with a desire for Wacoal's innovative, timeless collections.â
Wacoal is backed by intensive product research done by Wacoal's Human Science Research Center. To enhance consumer experience, it aims to introduce a new offering customised for the Indian audience. This range will be tailored to suit the local fashion and colour palate. All Wacoal products are priced between Rs 995 and Rs 3,995.
Headquartered in Mumbai, Wacoal entered the Indian market in 2015 through a joint venture with Periwinkle Fashions Private Limited, the flagship company of the Tainwala Group. Wacoal India Pvt. Ltd., is a joint-venture between Periwinkle and Wacoal International Hong Kong Co. Ltd.