Japanese lingerie brand Wacoal to expand into India
Lingerie manufacturer Wacoal is reading its entry into India, as it invests 200 million Indian rupees (around $2.9 million at current currency exchange rates) to open 75 stores over the next five years.
According to India’s Economic Times, Wacoal has been looking to enter the Indian market for several years, especially while considering the growth rates of cities such as Mumbai. The label, which competes with other luxury lingerie brands such as Agent Provocateur, and La Senza, will also launch a localized e-commerce platform and sell through multi-brand outlets.
Wacoal was founded in 1949 in Japan and has grown into a worldwide success, with 56 subsidiaries and 10 affiliated companies. Its main business is the manufacture, wholesale and direct sales to consumers of intimate apparel, outerwear, sportswear, and other textile products and accessories.
The planned entry into India will be led with Periwinkle Fashions, the company's partner for the country.
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