VF Arvind Brands, the newly formed joint venture between Arvind Brands and the US-based branded lifestyle apparel maker VF Corporation, is eyeing more international brands from the VF Corporation portfolio to be introduced in India.
Targeting the middle-income group, the company recently launched its denimwear brand Hero (priced at Rs 500-800) and Riders (Rs 600-1,000), which has a wide range of products. “At present, Hero is sold under Lee brand and Riders under Wrangler. The company plans to open three exclusive outlets each for Hero and Riders by the end of this year,” a company spokesperson told Indiaretailing. Currently, Hero is also available at Metro, Spencer’s and Big Bazaar, while Riders is sold at Spencer’s. Both brands will soon be available in the to-be-launched Reliance hypermarket.
The company is also looking to nearly double the number of Lee and Wrangler stores in the country. “Retail expansion has also been part of our plans each year, but this year there will be a greater thrust,” informed Darshan Mehta, CEO, VF Arvind Brands, which follows a January-December financial year. As on January 1, there were 48 Lee and 28 Wrangler stores. By the end of the calendar year, VF Arvind Brands will have 98 Lee and 52 Wrangler stores in the country.
Lee store will soon house a coffee shop. This will probably be the first time that a standalone garment brand will have a coffee shop inside its store. “A cafe inside the store will not only generate more footfalls, but also help in getting additional revenues for the company,” the spokesperson added.
The company is also working out a marketing strategy for its existing brands like JanSport, Kipling and Nautica, launched earlier this year. Out of fifty-five brands in the VF Corporation portfolio, Lee and Wrangler have marked their presence in the Indian market for last ten years.
VF Arvind Brands aims at 30 per cent growth and is hoping to end the current fiscal year at $45 million (Rs 200 crore), anticipating continued growth in the next financial year.
Arvind Brands holds 40 per cent stake in the JV company.
– Vishnu Rageev R, Bangalore Bureau