Japanese luxury lingerie brand Wacoal plans to invest nearly Rs 20 crore in India to open 75 stores over the next five years. Kyoto-based Wacoal, established in 1949, has a presence in over 66 countries and regions, including North America, Europe and Asia. In India, it will compete with companies such as LaSenza, Marks & Spencer and Triumph in the intimate apparel market of Rs 17,000 crore.
“India has always been on our radar and the luxury retail sector in India, especially in cities such as Mumbai, has been growing tremendously over the past decade,” Director Yuzo Ide said. Priced between Rs 2,000 and Rs 4,000, the brand will also be sold on online platforms and through multi-brand outlets.