Victoria's Secret to establish GIC in Bangalore

Limited Brands, makers of popular American international lingerie brand Victoria's Secret

lingerie, is developing its first global in-house centre (GIC) in Bangalore. The centre will do data analytics, that is analyze vast quantities of customer and retail information, to create better products and improve customer satisfaction.

The 10 billion dollars (over Rs 60,000 crores) US firm, which also has brands like Pink, Bath & Body Works, Henri Bendel and La Senza, has applied to the Foreign Investment Promotion Board (FIPB) to establish the technology centre. Moving ahead with its plans, the company has already leased real-estate space in Manyata Tech Park.

GICs were first set up in the country owing to lower costs, however, they later moved up the value chain to become an integral part of the parent companies' operations. There are over 1,600 GICs globally with India accounting for 43 percent of them. GICs contribute 20 billion dollars (over Rs 1,20,000 crores) in revenues. The first set of GICs in India included global financial companies like Citibank, Standard Chartered and HSBC followed by companies from other sectors.