Well known womenswear brand ‘W’ from TCNS is planning to set up a pan-India presence. The company will invest over Rs 50 crore to pump up its premium and budget brands. It plans to expand its retail presence this year to 200 points of sale across 30 cities, and 45 exclusive brand stores across 25 cities.
“W has been able to carve a niche for itself in the ready-to-wear market with its innovative styling and day-to-day functionality. Now, it is time to expand and extend our designs to women across the country,” Vijay Mishra, CEO, W, told Indiaretailing.
“We are also in the processes of changing our brand positioning. The fusionwear clothing meant for the contemporary Indian woman will now be positioned as fashion-oriented, changing with fashion trends,” Mishra added.
The company recently introduced Weve, an ethnicwear budget brand. The company has entered into a strategic alliance with Reliance Retail to retail Weve through the Reliance hypermarket and special format stores.
Weve’s shop-in-shop in Reliance’s stores in smaller cities will be around 250 square feet, while in bigger cities it will cover around 450 square feet. Targeting the middle-class modern woman, the brand is priced in the range of Rs 250-Rs 495. The products in Weve include Indianwear like dupattas, kurtis, tops and kurtas. Weve will not have any exclusive or standalone stores.
“The budget ethnicwear segment for women has become more organised and we thought it was the right time for us to enter the segment,” said Mishra
Commenting on the brand’s partnership with Reliance, Mishra informed, “Our partnership with Reliance will help us save finance need for retail site and logistics, etc. Reliance will provide one of the best retail platforms for developing our brand.”
The company posted Rs 30 crore turnover last fiscal and is aiming Rs 60 crore next fiscal, and hopes to touch the Rs 140-crore mark by 2009.
– Ranjan Kaplish
