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Monday, 13 September 2010 |
Premium apparel wear brand Van Heusen is going in
for a portfolio expansion by next year as a part of its plans to achieve sales of over Rs 550 crores this fiscal. This will include the launch of their sportswear collection by February 2011. Van Heusen which intends to be a complete lifestyle brand will launch its first casual and denim range by next month.
The company has been growing at 25 per cent annually, and its new businesses add around 35 per cent to its overall sales. A premium lifestyle brand of Madura Garments, it has been diversifying into other categories since 2000. Apart from men’s formal wear, it’s present in women’s formal wear, club wear and party wear segments.
By the end of the current fiscal, it expects retail sales to reach between Rs 500 crores to Rs 550 crores. In the last three months, the brand has seen a growth of 50 per cent. Last fiscal, Van Heusen had sales worth Rs 375 crores. The company is also looking at ramping up its retail presence by taking its total number of stores to 140 by this year from 105 at present. They open almost one store every week. |
