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IWG to launch premium brand Signature, expand India footprint rapidly
UK-based coworking major International Workplaces Group (IWG) plans to launch its premium brand Signature in India in the next couple of years, said Marc Descrozaille, chief executive officer for the Middle East, Africa, and APAC. This comes at a time when India's office rental and flex space markets are expected to grow. He added that the company will accelerate its India footprint through acquisitions already in the pipeline.
'We've been open to discussions in the past, and we remain open to them as a way to accelerate our growth. If the right opportunity comes along with the right partner, we'll certainly consider it — it's definitely on the table,' Descrozaille said in an interaction with Business Standard on Friday.
Nationwide, IWG plans to establish 40–50 new centres by the end of 2025 and intends to enter cities such as Surat, Patiala, Vijayawada, Salem, Calicut, and Thiruvananthapuram—targeting both Tier II and Tier III cities. In Bengaluru alone, the company has around 13 centres and plans to add another 18 in 2025. An additional 20 are scheduled to open in the first quarter of 2026. Currently, it operates more than 100 centres, which it aims to quadruple over the next three to five years.
IWG, which competes with WeWork, Awfis, and Smartworks, operates three brands in India—Regus, Spaces, and HQ. The country is among its fastest-growing markets, prompting the company to introduce Signature, its premium coworking brand. Signature will feature a hotelification-like concept with luxury amenities such as concierge services, client insurance policies, enhanced registration procedures, and more, Descrozaille said, highlighting growing demand for high-end services in India's office space market.
Globally, IWG serves around 8 million members, ranging from mid-scale businesses to 83 per cent of Fortune 500 companies. On the rental front, IWG noted that office space rates vary across micro-markets depending on multiple factors.
'In Bengaluru, however, our rentals grow at an average of 5–10 per cent annually. We expect this momentum to continue in the near future,' said Harsh Lambah, vice president – sales, South Asia, IWG.
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