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Witco relocates itself as fashion and lifestyle brand venture
May 16, 2008: Witco, a Chennai-based luggage retailer looks to re-position itself as a fashion and lifestyle brand. The company, which is currently present only in Bangalore and Chennai, is also eyeing a pan-India presence and plans to set up 50 stores in two – three years in metros and other major cities with stores in Hyderabad, Delhi and Mumbai to be set up initially. The showrooms are expected to reflect the theme of lifestyle and fashion.
The company is planning set up at least one large format flagship store in each city with retail space of 7,000-9,000 sq. ft. The company is also looking for private equity investment to the tune of Rs. 40 crore and is in talks with some PE funds.
As part of its new positioning, Witco plans to foray into apparel as well. It will retail six brands — Arrow, Wills Lifestyle, Levis, ColorPlus, Indian Terrain and Zodiac.
Source: Hindu Business Line