22 November 2021, Mumbai:
For the second quarter revenue of TCNS Clothing jumped 66 per cent. Online contributed to 22 per cent of the total revenue with the company’s website contributing 15 per cent to total online sales.
Most of the company’s network is running without restrictions now with 90 per cent operational days in the second quarter with intermittent local lockdowns/ restrictions across the country. The company plans to expand its retail presence by opening 15 new stores in the second half of the current financial year while 60 new stores are planned for fiscal 2022.
Contemporary ethnic wear firm TCNS Clothing had recently expanded its product portfolio with its entry into the cosmetics segment with the launch of W Beauty. TCNS Clothing currently has over 400 exclusive brand outlets across India for its various brands as well as over 1,300 large format store outlets, and 1,400 multi-brand outlets. TCNS Clothing runs the Indo-western women’s apparel brand W. The company has made two additions in the form of Aurelia (ethnic wear) and Wishful (premium apparels) to its portfolio thus expanding its offerings in the market.
There are no foreign players in the Indian ethnic segment. There are a few regional players and private labels but they are constrained to their region of operations owing to distribution challenges. So this is a very good segment for branded players.
