Madura Fashion & Lifestyle (Madura F&L), which markets the premium apparel brand Van Heusen in India, plans to open 50 to 60 new exclusive stores each year, with most of them being franchisee-owned.
Van Heusen is currently available at 135 exclusive outlets, and the retail expansion would also include foraying into small towns and cities. By the end of fiscal 2011-12, the Van Heusen brand will be available at 150 exclusive outlets.
Along with the expansion, the company is expecting the revenue from the premium brand to rise to Rs 8.5 billion at the end of current fiscal. Last fiscal, it grossed a turnover of Rs 6.5 billion. And for the next fiscal, i.e. 2012-13, the company has set a target of Rs 11 billion.
Although Van Heusen was launched in 1989, the actual retail expansion of the brand started only a couple of years ago when its exclusive outlets were opened.
Madura F&L, a division of Aditya Birla Nuvo Ltd, is one of India's fastest growing branded apparel companies and a premium lifestyle player in the retail sector. Besides Van Heusen, it sells brands like Louis Philippe, Allen Solly, Peter England and People through around 1,000 retail points that includes both conventional and multi-brand stores.
In March this year, the company increased the price of all its products by nearly 15 percent owing to rise in the price of raw material and the excise duty imposed on branded apparels in the Union Budget. As the price of cotton has declined since then, the company is planning to reduce the prices of its products by about 3 to 4 percent in November.
Fibre2fashion News Desk - India
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