Van Heusen, a premium lifestyle brand of Madura Garments, is targeting a turnover of Rs 400 crore by 2011-12 as against Rs 250 crore now on the back of new stores. The company would invest 5 per cent of its turnover in brand building.
Speaking to Business Standard, Shitalkumar Mehta, chief operating officer, Van Heusen, said to achieve the target the company would open 75 exclusive stores over the next three years focusing on Tier II and III cities. “We are expecting 25-30 per cent of the business from Tier II and III cities by 2011-12." The brand currently has 60 exclusive stores, including the one launched at Chennai recently.
The two brands — Van Heusen for women and V dot for the young Indian male — introduced in 2006 account for 20 per cent of the total revenue, which is expected to increase to around 30 per cent in 2009-10, Mehta said.
After the Aditya Birla group acquired Madura Garments six years ago, the company became the owner of brands like Louis Philippe, Allen Solly and Van Heusen.