Saturday, October 07, 2006

VF Arvind keen to expand to non-apparel segments

Rediff Money writes that with the new joint venture between the Vanity Fair Corporation and Arvind Brands, VF Arvind is looking to expand its expertise beyond apparel. The Chairman of VF Arvind Brands and President of the VF Corporation Eric Wiseman, said, "We have made an entry at a perfect time since the Indian retail market is poised to change in the next 10 years. Indian consumers are gradually moving towards international brands."

The new company has recently announced that it would be launching three new brands, Nautica, Jansport and Kipling. The company’s two other brands, Lee and Wrangler, were available in India before the joint venture. Wiseman added that the company would be focusing on “…strengthening and consolidating the five brands -- three new and existing two. The idea is to create a critical mass for the five brands before introducing other brands."

The Nautica brand will offer a range of home products such as sofa sets, crockery and other home furnishing items. It will also have a selection of eyewear, perfumes and executive bags. Kipling will stock a variety of luggage items from backpacks, shoulder bags, laptop bags and wallets.

The company will be focusing on six markets, Mumbai, Delhi, Bangalore, Pune, Chennai and Hyderabad to strengthen its brand and image. Its business is currently worth $40 million in India and is likely to grow by more than 25% this financial year itself.

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