Cravatex Brands (CBL) plans to expand its retail network to 50 stores over the next five years in order to expand the brand’s appeal beyond teenage stakeboarders. The company recently acquired the rights to manage the Indian operations of Skater Footwear brand Vans from its global owner VF Corporation. CBL already has licence to run several brands in the country including Italian sportswearbrand Fila and Proline Fitness.
Vans, a $3 billion lifestyle brand has made its fortunes by creating marketing opportunities such as personalisation, do-it-yourself design workshops and associating itself with pop culture and art. By combining its global strength with CBL’s local market expertise, Vans aims to forge even deeper connections with Indian consumers while expanding market share. It aims to reach sales of $5 billion by fiscal 2023.