The Hindu Business Line : European lingerie wear Change to enter India

New Delhi, Nov. 29 European premium lingerie brand Change is looking to make an India foray. The company has joined hands with integrated franchise and retail solution Franchise India Holdings to open its exclusive outlets in India by the end of this fiscal.

FORAY DETAILS

The Danish brand is planning to open 150 outlets in the three to five years and has earmarked $5-7 million.

“We had been contemplating the launch of our own brand exclusively for India since a decade. However, the retail market was not opened up then. Now, we think is the right time for us to launch our brand as the lingerie market here has stepped out of the closet,” Mr Niels Krogh, Director, Change, Denmark, told Business Line .

He said the company is in talks with major niche retailers to set up shop here. The €15 million company currently has presence in 20 countries across the globe.

MARKET SIZE

The innerwear market in India is estimated at Rs 1600 crore of which the organized sector accounts for about Rs 350 crore. “When it comes to style, fashion and trendy wear, India has emerged as one of most fashionable country. We at Change decided to enter India and create an environment where every woman can go and feel like her true self,” he added. Mr Gaurav Marya, President, FIHL said, Change will offer Indian consumers best possible combination of design, functionality and price. Change will bring in about 100 odd stock keeping units in the innerwear and night wear category.

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