Fifth Avenue Holdings is going to combine premium menswear brand 'Fred Stuart' and its knitwear brand 'Anteedote', with a food & beverage brand 'Pasta Bar Veneto'. The over $100 million firm is the parent company of Chennai-based Fifth Avenue Sourcing.
As the fashion and eating-out culture in India has acquired an experimental mode, this over $100 million firm sees opportunity in these markets to leverage its sourcing expertise with international retail brands. For its retail venture, Fifth Avenue has invested Rs450 million to Rs500 million through internal accruals and bank debt.
By the fiscal 2011-2012, Fred Stuart, a brand inspired from Anglo-Italian clothing will showcase its products in around 10 stores, and it will price each of its shirts between Rs 900- 1,200.
Its flagship stores will house the products of all three brands and its cluster development plan will initially focus on South India as it intends to produce the items suitable for different regions. Fifth Avenue Sourcing has license sell products of Fred Stuart in the Asian, Vietnamese and Australian markets.
Moreover, it also handles the sourcing needs of Diesel, Replay, Fila and Calvin Klein.
Fibre2fashion News Desk - India
marketing@alchempro.com
