India’s branded apparel market is estimated to be around Rs 15,000 crores.
Madura Fashion & Lifestyle, an Aditya Birla group firm, plans to expand the retail presence of its apparel brand Van Heusen across India. At present there are 135 Van Heusen stores across 30 cities of India. The company aims to add 60 retail stores every year that would help increase its footprint across smaller cities in India. “We are eyeing revenues of Rs 1,100 crore by end of March 31, 2013,” Ajay Ramachandran, chief operating officer of Van Heusen told HT.
He said that Van Heusen’s net sales stood at Rs 650 crore for the last fiscal and company expects revenues of Rs 850 crore during the current fiscal. The firm sells premium fashion apparel for men and women under the brand Van Heusen. “Over the next two years we will have our presence in 125 cities of the country,” said Ramachandran.