TA Associates invests $140 million in TCNS Clothing

US based private equity firm TA Associates has invested $140 million for a minority stake in India's TCNS Clothing Company Pvt. Ltd., which retails the W, Aurelia and Wishful womenswear apparel brands.

The three brands are available in more than 1,600 multi-brand stores across India, Mauritius, Sri Lanka and the Middle East, and in over 300 exclusive stores in more than 100 cities.

TCNS clocked sales of more than $120 million in fiscal 2016, up 70 per cent year-over-year and added around 100 stores last year, while also venturing into Sri Lanka and Mauritius.

“As the leader in branded women’s apparel, TCNS Clothing is driving the shift in organised retail and providing the Indian consumer with a differentiated product and value proposition,” Naresh Patwari, director at TA Associates’ Mumbai office said.

“With Anant Daga as the CEO and a very strong management team, we believe that TCNS is well prepared to capture this large and long-term growth opportunity,” he added.

Founder of TCNS Clothing OS Pasricha too said, “We are pleased to have TA Associates as our partner for the next phase of our growth, and are delighted to welcome TA to our company and to our board.”