Van Heusen is planning extensive retail expansion plan
Van Heusen is planning extensive retail expansion plan by opening 25 exclusive stores this year and 65 more stores by the end of financial year 2012. The brand wants to have a pan-India presence and reach 50 tier-I and tier-II cities. The average size of the stores will be 200 sq. ft and the flagship stores will cover 7,000 sq. ft. The company is planning most of its stores on high street. The company will have stores in four different formats – men, women, V Dot for youngsters and a combination of all of these. In addition, the company has increased its brand-building spends by 50 per cent this year. Last year, five per cent of the turnover went towards promotions and advertising. This year, about seven per cent of the turnover will go into brand-building exercises. The company has tied up with the Fashion Design Council of India to launch India`s first Men`s Fashion Week as the title sponsor. The event will be held in Delhi from September 11-13.