Apparel Online India Magazine April 1st Issue 2019 | Page 46

DOMESTIC UPDATE TO ADVERTISE GOING TO A GOOD EVENT? Contact Rani Mahendru [phone] (512) [email protected] Send your industry gossip, photos and news to [email protected] Wacoal plans to invest Rs. 100 crore in the Indian market Wacoal, a Japanese lingerie brand that entered India in 2015 through a joint venture with Periwinkle Fashions, plans to invest Rs. 100 crore in the country over the next three years. The company aims to generate a revenue of US $ 25 million in the country by the year 2021. Wacoal has planned to take the number of its exclusive stores in the country to 70 by 2021 while adding another 80 stores in the shop- in-shop format. “We have seen exponential growth 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,” said where the items are coming from. As per the executive, Japan is the biggest market for Wacoal which is present in 70 countries followed by US, UK and China. Tomoyasu Ito, Representative Director, President and Corporate Officer, Wacoal Corp. It is worth noting that Wacoal currently imports the products from its factories globally but may look at producing them in India. Ito mentions that their aim is to get the right products for the Indian market without worrying about Apart from setting up more stores in the existing markets like Mumbai, Delhi, Pune and Bangalore, Wacoal will also open more stores in the other top 10 cities of India. Japanese brand also focuses to capture smaller cities such as Nashik, Rajkot, Nagpur and Indore. The brand markets its product in India through its network of 12 company-owned exclusive outlets through e-commerce companies like Myntra, Jabong, Tata Cliq and its own online portal. Walmart launches first B2B Cash & Carry store in Telangana The wholly-owned subsidiary of Walmart Inc — Walmart India — has launched its first B2B Cash & Carry store in Karimnagar, Telangana. It is the second store in Telangana and the 24th ‘Best Price Modern Wholesale Store’ in India. “We are excited about opening the first B2B Cash & Carry Store in the city of Karimnagar. This is our second store in Telangana, which reinforces our belief in the ease of doing business under the leadership of Chief Minister K. Chandrashekar Rao,” shared Krish Iyer, President & CEO, Walmart India. The store will create job opportunities for more than 2,000 people. “This store also gives us the opportunity to continue to create shared value for our local supplier partners, farmers, members, associates and the community at large. Each of our 46 Apparel Online India | APRIL 1-15, 2019 | www.apparelresources.com stores creates an estimated 2,000 direct and indirect jobs and this one too has opened up employment opportunity for local youth in Karimnagar,” he stated. Spread over 50,000 sq. ft., Walmart India is planning to open seven more stores in the state. “Telangana is an important state for us. We have signed an MoU with the State Government and at least seven new stores are in the pipeline. Besides, the state is an important sourcing destination for us as we source directly from farmers, work with many small and medium agri-commodity suppliers and several SMEs for our private brands,” said Krish.