America’s largest speciality retailer of children’s apparel and accessories, The Children’s Place (TCP) is staging an entry into the India market with the opening of its first 2,500 sq ft store in Bengaluru’s Orion Mall on Saturday.
Brought to India by Arvind Lifestyle Brands Ltd, TCP is the country’s first head-to-toe fashion destination for children from 0-14 years.
Indiaretailing reported about this development in May this year. Speaking exclusively to Indiaretailing, J Suresh, Managing Director & CEO of Arvind Lifestyle Brands Ltd had informed about the company’s plan to get TCP in India. “Kidswear is a category which we see huge opportunities in, but scalability and pricing mismatches have so far prevented large-scale branding in the segment in India. We are looking at a total of 4-5 outlets for the chain in India this fiscal,” Suresh had said then.
Founded in 1969, The Children’s Place is the largest pure-play children speciality apparel retailer in North America, offering fashionable, high quality and head to toe outfits at great prices. Internationally, the chain has rapidly grown to 79 stores in 10 countries.
“We are excited to be partnering with Arvind, which has a proven track record of operating successful apparel brands in India. We are making significant strides in our International franchise business, and we remain focused on providing great fashion and value for kids around the world,” said Adrienne Gernand, Sr. Vice President International, The Children’s Place, Inc. in a press statement.
Technopak reveals that the Indian apparel market is expected to grow at a compound annual growth rate (CAGR) of nine percent, from US$ 41 billion in 2013 to US$ 102 billion in 2023. In 2013, the kidswear segment, at US$ 8.3 billion, alone contributed 20 percent of India’s entire apparel market. Given its higher growth rate, this share is expected to increase to 22 percent by 2023.