Cravatex Brands (CBL), which recently acquired the rights to manage India operations of skater footwear brand Vans from its owner VF Corporation (VFC), plans to invest in brand building and open 50 stores over five years to expand its appeal beyond teenage skateboarders. VFC had launched Vans in India in 2011 through a partnership with Arvind Brands.
CBL already has licence to run several brands, including Italian sportswear brand Fila and Proline Fitness.Cravatex Brands (CBL), which recently acquired the rights to manage India operations of skater footwear brand Vans from its owner VF Corporation (VFC), plans to invest in brand building and open 50 stores over five years to expand its appeal beyond teenage skateboarders. VFC had launched Vans in India in 2011 through a partnership with Arvind Brands.#
Based in California in 1966, Vans has grown steadily after US-based VFC acquired it in 2014 and is aiming to reach sales of $5 billion by fiscal 2022-23, according to a report in a top Indian business daily. (DS)
ALCHEMPro News Desk – India
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