June 6, 2013

Madura Fashion & Lifestyle to expand Van Heusen’s retail network in India

Madura Fashion & Lifestyle, an Indian clothing retailer, has plans to expand its Van Heusen brand across the country over the year 2013.

By admin-demo

Madura Fashion & Lifestyle, an Indian clothing retailer, has plans to expand its Van Heusen brand across the country over the year 2013.

As per the plan, the company will launch a total of 65 outlets including 10 womenswear specialist stores and five accessories-only stores.

Majority of these stores are planned for non-metros.

An investment of INR100m ($1.76m) has been laid out for 15 specialist stores for womenswear and accessories.

First womenswear store under the plan is scheduled for a July 2013 launch in Cochin, Kerala.

Madura Fashion is targeting an increase of 20% in its annual revenue for the current financial year supported by these new stores launch.

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Commenting on the developments, Van Heusen brand head Vinay Bhopatkar told The Economic Times that the expansion plans and product innovations are aimed at boosting its growth in the dry market environment.

The company is intending at 18-20% growth, revealed Bhopatkar.

It had posted 10% increase to INR10bn ($176.3m) in sales for fiscal 2012- 2013.

Meanwhile, the company is seeking franchise-model stores with 70% of the outlets are expected to be franchisee-owned.

Madura Fashion has now shifted its focus towards growth of womenswear segment claiming that the sector accounts for 8% – 10%
of the group sales.

Although small, womenswear a fastest growing market and the company is seeing it as a potential growth opportunity, added Bhopatkar.