Cravatex Brands (CBL) has announced its collaboration with Vans to operate its Indian operations.
Cravatex Brands (CBL) will now be administrating the Indian operation of Vans, skater footwear brand, from its global owner VF Corporation.
With this step the company plans to broaden the brand’s image beyond teenage skateboarders and also plans on opening 50 stores over the next five year. CBL already holds the rights to run several other brands including Proline fitness and Fila and with this step it has added one brand to its portfolio.
"Vans is an iconic global brand and a perfect fit for our vision at Cravatex Brands to create India’s premier platform for fashion, sportswear and wellness. We will be investing significantly into brand building by focusing on the Vans brand pillars and focusing on creating real authentic consumer conversations that embody the “Off The Wall” spirit”. Said Rohan Batra, Managing Director at CBL.
VF Corporation in collaboration with Arvind Drands launched Vans Shoes . The brand marketing strategies such as personalization, do-it-yourself design workshop and its association with pop culture and art has assisted the brand with success making it a $3 billion brand.
"By combining the global strength of the Vans brand with CBL’s local market expertise, we are confident that Vans will forge even deeper connections with Indian consumers while expanding market share,” said, Scott Basham, Managing Director of Vans.
As its future perspective CBL is planning to make Vans worth $5 billion brand by fiscal 2023.
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