March 12, 2013: World over companies are facing the heat because of slowdown and Indian companies are no exception. Van Heusen, the brand from Madura Fashion and Lifestyle, which operates in India under license from Phillips Van Heusen, US has also started feeling the heat and they are coming out with strategies to overcome the pressure. Madura Fashion is diversifying the Van Heusen brand and from now on Van Heusen will also have a women apparel range. The brand will be diversifying into footwear and sportswear as well.
Van Heusen till now had a premium tag and that it was perceived as a brand for the average office goers. But now the brand is going to shed that image. According to Vinay A. Bhopatkar, Brand Head, Van Heusen, “This year overall has been under pressure as footfalls have dropped for most players. We are building a buffer against slowdown with a diversified portfolio to create consumer interest.”
Madura Fashion as part of diversification is integrating its supply chain for these product categories and is also planning retail and product expansions. The company expects the women’s wear to contribute 8-10 per cent to the turnover. As the company struggles with falling foot falls, the company is mulling to open more franchise stores in tier-II and tier-III cities and also on the cards is to increase the presence of its youth brand V Dot. The company has also taken onto centralised brand wise sourcing and thereby maintaining a leaner inventory.