Women’s wear brand W to go international india & middle east
As a part of India expansion, the company plans to set up
100 exclusive ‘W’ stores in the country including tier II and tier III cities
by March 2012. Some of these stores are franchised.
“By the end of financial year 2011-2012, the plan is to set up 100 exclusive stores. We are also studying international markets such as the UK, theMiddleEastand theSouthEastAsiancountries which could have a good demand for the brand,” ‘W’ CEO Anant Daga. .
The plan for international expansion is at a nascent stage, as the company is studying the potential markets, seasonality, sizes, partnership models etc., Daga said. “We hope to make international foray in 2011-12,” he added.
About half of the existing 60 exclusive stores are owned by the company and rest by franchisees. However, going ahead, the focus on franchising will increase. “Of the 100 new stores planned, about 20 per cent will be company owned,” Daga said.
Asked about the investment required to set up one exclusive store, he said, “A new store can cost anywhere between Rs 35 lakh to 60 lakh depending on the size and location.”
The investment will be funded by internal accruals in case of the company-owned stores. Daga did not disclose annual turnover of the retail chain citing confidential reasons, as TCNS Clothing Company is a privately-held company.
“We are hoping to almost double the turnover by March next year as compared to last year,” Daga added.