TA investment
Boston-based TA Associates, a leading global growth private equity firm, has invested in a US$140 million for a minority stake in TCNS Clothing Company Pvt. Ltd., India’s leading branded women’s apparel platform.
New Delhi-headquartered TCNS Clothing has three brands – W, Aurelia and Wishful which are present in more than 1,600 points of sale across India, Mauritius, Sri Lanka and the Middle East, and in over 300 exclusive stores in more than 100 cities.
“The women’s ethnic apparel market in India is largely unorganized and is undergoing a shift towards organized and branded,” added Naresh Patwari, a Director at TA Associates’ Mumbai office who will join the TCNS Board of Directors.
The Indian women’s apparel market is predicted to reach approximately US$20 billion in 2020, up from $13 billion in 2015, a compound annual growth rate of 10%, according to Avendus Capital. The branded portion of this market, approximately 17% in 2015, is expected to surpass 38% over the next 10 years.
“TCNS has become a true leader in women’s apparel in India,” said Naveen Wadhera, a Managing Director at TA Associates and Co-Head of Asia who will also join the TCNS Board of Directors. fii-news.com