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Women wear brand W plans to raise $100 million from PE funds
Posted On: 17-02-2016 00:00:00 16

As per an article in Mint:

TCNS Clothing Co. Pvt. Ltd, which owns the W brand of clothes for women, is in talks to raise around $100 million to fund its growth plans and provide an exit to its existing investor Matrix Partners India. Matrix Partners is looking to sell almost 20% stake, while the firm is looking to dilute another 10-15% to raise capital for its expansion plans. Matrix has invested about Rs.100 crore in TCNS since 2011.

TCNS Clothing introduced the W brand in 2001; it also sells the Aurelia and Wishful brands. Currently, W is sold in around 200 exclusive outlets while Aurelia is sold through 90 stores. Brand W contributes about 70% of the overall revenue, while popular brand Aurelia and premium brand Wishful contribute the rest.

According to data from the firmís filings with the registrar of companies, TCNS Clothingís 2014-15 revenue jumped 80% to Rs.358.7 crore from Rs.199 crore in the previous year. The firmís profit tripled to Rs.27.2 crore.

The proposed money will be used to expand its reach into new geographies and increase the number of outlets in India. TCNS Clothing aims to double its sales to Rs.1, 000 crore by 2017 fiscal on the back of new stores and increase in online sales. The firm is also looking to open outlets in Singapore, Mauritius and Sri Lanka.

 
 
 

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