Teesort Kicks Off Its Global Expansion with the US Market Entry
Indian online fashion brand Teesort today said that it will launch operations in the US market from September 01, 2016. Teesort will introduce a range of premium, stylish and affordable men’s clothing and accessories under their brand name ‘Teesort Prima’ in the US, and will later launch a line of fashion clothing and accessories for women as well. The company defines its target market as urban Americans in the age group of 18-30 years and interested in premium-quality apparel at a value for money price.
Teesort products conform to the strict international standards including the non-usage of 132 listed and banned chemicals. They have also done extensive research on popular clothing sizes in the US and developed exclusive products like handmade Indian leather jackets to capture the attention of their prospective customers.
Teesort’s US market entry follows the company’s aggressive growth in India, where the company has grown from an INR 1 Crore brand to an INR 100 Crore brand in a span of 3 years (2013-2016) with a growth of 300% year on year. Teesort also said it is actively exploring market entry into other countries in the European Union, UK, Middle-East and Asia.
Alok Agarwal, Founder at Teesort.com said, “The US market entry is a natural progression for us as we remain committed to maintain an industry-leading growth trajectory, following our tremendous success in the Indian market. The US is also a strategic market for us and is our first step towards building a global footprint for the TSX brand.”
Keeping up to their motto of trendy yet affordable fashion, the TSX range of products shall start from $14.99 and go upto $199.99 (all prices are inclusive of delivery charges). Teesort said it will set up an office in New Jersey on the east coast, but will cater to all Pin codes across the US through tie-ups with FedEx and USPS.
Atul Agarwal, Co-founder at Teesort.com said, “As a young Indian fashion brand, entering the US market is more than just a proud moment for us; it also aligns completely with the government’s vision of ‘Make in India’, all Teesort products to be sold in the US will be manufactured in India.”
Teesort said that the company’s international expansion will play an important role in achieving its internal target of reaching INR 500 crores revenues by 2020. The US is a highly lucrative and growing market for online apparel retailing. Research firm eMarketer last year forecasted that US retail ecommerce sales of apparel and accessories would reach $68.2 billion in 2016, growing at 13.7% over previous year, and keeping a 17.3% share of total US retail ecommerce. Another research by the Cotton Incorporated Lifestyle Monitor™, states that the US millennials (18-34 years) spend nearly $900 a year on apparel, which is 65 percent more than the Boomer generation2 (51-69 years).
