Founded in 1963, the women’s apparel brand was the foundation brand for Limited Brands group, a retailing giant, whose portfolio also includes the Victoria's Secret and Bath & Body Works. It was acquired by the investment firm Sun Capital Partners about five years back.
Bradford Licensing is assisting the US-based company in store openings as well their intention of producing garments in India. The list of women’s fashion brands that are strong globally and have already made it big in India includes Zara and Vero Moda among others. In fact, Zara clocked in sales worth Rs 405 crores during financial year ending March 2013 within four years of its launch in India. Zara’s success has attracted many foreign labels to try their luck in the country.
Over a dozen brands are in queue, which include names like Swedish fast-fashion retail giant Hennes and Mauritz (H&M), the largest casual wear retailer in the United States Gap and Japanese brand Uniqlo. India relaxed FDI norms in single brand retail in January last year, however many interested entrants expressed displeasure over 30 percent local sourcing norm, which has been diluted by the government last September.