Home / Knowledge / News / Apparel/Garments / Van Heusen banks on expansion; eyes 20% growth in FY'14
Van Heusen banks on expansion; eyes 20% growth in FY'14
08
Jun '13
Banking on its network expansion and introduction of new product categories, premium apparel brand, Van Heusen, is eyeing an 18-20 percent rise in its earnings during ongoing financial year 2013-14.
 
To achieve the target, the brand owned by Madura Fashion and Lifestyle would focus on new product lines and invest Rs. 100 million to set up 10 exclusive womenswear stores and 4-5 exclusive accessories stores during the ongoing fiscal year, Vinay Bhopatkar, Brand Head, Van Heusen, told PTI.
 
The company also plans to launch another 50 exclusive Van Heusen outlets this year, mainly in cities other than metros. Around 70 percent of these outlets would be established under franchise model, Economic Times reported quoting PTI.
 
According to Mr. Bhopatkar, the expansion plans and introduction of new product lines would help the company to grow in spite of slow moving demand in its target markets.
 
The company’s sales grew by about 10 percent to around Rs. 10 billion during last fiscal, with menswear being the main driver for growth, Mr. Bhopatkar said.
 
However, he noted that despite being a small contributor at present, womenswear segment is also growing at a faster pace, and they eye huge growth prospects in this segment too. 
 
The new womenswear outlets to be launched in metros would mainly focus on premium fashion, he added.
 
The womenswear segment, accounting for around 8-10 percent of the company’s total sales, is expected to post a 30-40 percent growth during the current fiscal. Meanwhile, the accessories segment, which includes footwear and belts, is likely to grow by around 50-60 percent, he added.
 
At present, the company operates 200 exclusive Van Heusen outlets and seven womeswear outlets pan India, and the company is set to launch its first exclusive accessories outlet in Cochin in July this year.
 

Fibre2fashion News Desk - India


Must ReadView All

US commerce department finds dumping of low melt PSF

Textiles | On 20th Jun 2018

US commerce department finds dumping of low melt PSF

The US department of commerce (USDC) has announced affirmative final...

Courtesy: Aditya Birla

Textiles | On 20th Jun 2018

'Growth of VSF yarn industry is difficult'

Growth for the viscose filament yarn (VSF) yarn industry is...

Comfort USP of Sensitive Fabrics range of Eurojersey Spa

Apparel/Garments | On 20th Jun 2018

Comfort USP of Sensitive Fabrics range of Eurojersey Spa

Italian company Eurojersey Spa will present in 2019 new embossing...

Interviews View All

Binoy Ravjani
Hero's Fashion

‘One of the recent trends in hand block printing is the indigo process,...

Rahul Bhadani
Looksgud

Navigating through catalogues is a bit hasslesome

Janak Dhamanwala & Sunil Dhamanwala
Jansun

Moving towards sustainability is also a social change

Paolo Crespi

For.Tex is an Italy-based leading producer of dyes and thickeners, and is...

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Amiben Shroff
Shrujan

From its modest beginning in the late 1960s, Shrujan has grown into a...

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


June 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search