Hong Kong-based women’s intimatewear retailer Wacoal International has received the Foreign Investment Promotion Board’s (FIPB) approval to set up a Joint Venture in India with 51% equity participation for undertaking of single brand retail under the brand name Wacoal. The remaining 49% of the equity share will be held by a yet-to-be-named Indian JV partner.
Wacoal Hong Kong is a subsidiary of Kyoto, Japan-headquartered Wacoal Corp. Composed of 56 subsidiaries and 10 affiliated companies, Wacoal’s mainstay business is the manufacture, whlolesale and direct saes to consumers of intimate apparel (mainly women’s foundation garments, lingerie, nightwear and children’s underwear), outerwear, sportswear, and other textile products and accessories. In addition, Wacoal also runs other business related to food, culture, services, and interior furnishing of shops.
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