Van Heusen targets 20 percent growth this fiscal

Madura Fashion and Lifestyle's premium brand Van Heusen

is targeting up to 20 percent increase in its turnover in the current financial year on the back of network expansion and new product lines. In order to support the growth, Van Heusen will focus on new categories and plans to open 10 exclusive womenswear outlets and 4-5 accessories only outlets this fiscal with an estimated investment of Rs 10 crores.

The expansion will be in addition to the planned 50 exclusive Van Heusen stores that the company will open this year, mostly in non-metros. About 70 percent of these stores will be set up under franchise model. The brand had posted 10 percent increase in sales in 2012-13 at Rs 1,000 crores. While the menswear continued to be the brand's primary growth driver, company expects the womenswear segment to witness fast growth.

The women’s wear segment is expected to grow by 30-40 percent this year and accessories segment, including footwear, and belts, by 50-60 percent. At present, women’s wear contributes about 8-10 percent to overall sales. Van Huesen's women’s wear stores will come up in metros. Currently, Van Heusen has 200 exclusive stores and seven womenswear outlets. The company will open its first accessories only outlet in Cochin next month.