Witco - Luggage and Handbag Retailer

We have just learnt from our Retail reported that Witco India Pvt Ltd - retailer of Luggage, handbags and Accessories is in talks with PE Funds and investment bankers to fund its retail expansion plans.

Mr. V P Haris, MD Witco said,

Besides private Equity we are also looking at other option of entering into strategic tie-ups with retailers who can provide us space. The abnormal cost of Real Estate has delayed our plans for a while now.

The expansion would require around $8million. The company has launched brands such as Kipling [Belgian Women's Handbag] and Remova [German Luggage Brand]. Witco, which is mainly in premium branded retailing, is in talks with various designers to launch its own brand.