Oswal Group’s Oswal Retail Pvt. Ltd (ORPL), the branded intimatewear retailer, has firmed up plans to expand and consolidate its presence in the country. Under its expansion and consolidation plans, the group launched its second exclusive store of Straps at Bangalore’s Commercial Street. The new store will provide branded intimate apparel for women including lingerie, sleepwear, swimwear, maternitywear, camisoles and thermals, along with a select range of accessories.
With the launch, Straps now has 18 exclusive stores. ORPL is targeting 120 points of operation by 2009. Recognising the potential in the South market, ORPL plans to strengthen its presence in the region by increasing its total points of operation to 30 by 2010. Plans are afoot to launch stores in Karnataka, Tamil Nadu, Andhra Pradesh and Kerala.
According to Adish Oswal, MD, Oswal Retail Private Ltd, “Our first store in Bangalore received an overwhelming response. To serve our customers better and have a wider reach, we decided to launch another access point. Commercial Street is known as the fashion destination of Bangalore and our presence here will definitely drive more footfalls and provide larger access to the target audience.”
According to IMAGES India Apparel Report 2007, while innerwear forms just seven per cent of the Rs 101,300-crore Indian apparel market, the organised intimatewear market is pegged at Rs 2,200 crore and is expected to grow at 70 per cent year-on-year till 2009.
Oswal Group is bullish about the Indian intimatewear market and plans to capture five per cent market share of organised retail in the category by 2010.
– Bangalore Bureau