March 9, 2013: Aditya Birla Group owned Madura Fashion & Lifestyle which is looking for a jump of 16-18 per cent for its Van Heusen brand is planning to open 50 new stores by the end of next fiscal. Madura Fashion which is planning for a major expansion of Van Heusen stores would be targeting mostly North Eastern region and is aiming at doubling the outlets in that area. In the words of Vinay Bhopatkar, Brand Head (Van Heusen), Madura Fashion & Lifestyle, “We are expanding our outlets. We currently have around 200 stores across the country and are planning to add 40-50 more outlets during next fiscal”.
The company is targeting the Van Heusen brand and looking for growth in mostly Tier II cities like Bhilai, Thirupathi and Warangal. Madura Fashion on the on the one side as part of expansion strategy is going for new store formats between 1,000-1,500 sq ft and that to mostly in the franchise format, on the other hand they are closing down some stores as well which are not making profits. There are 20 stores like that which are yet to make profits. Madura Fashion will also be launching Van Heusen accessories store and also expand into exclusive women’s wear as well in the future.