5 June 2019
Cravatex Brands Limited(CBL) announces partnership with Vans, the original action sports brand and advocate for creative expression, to operate the Vans India business. With the addition of Vans, CBL continues to add incredible brands to its portfolio which includes brands across the fashion, sportswear and wellness sectors such as FILA, Matrix, Stages, Les Mills, Ziva and Proline Fitness.
Since VF’s acquisition in 2004,Vans has emerged as the global icon of creative expression in youth culture and today is an over $3 billion global lifestyle brand. Rooted in California since 1966, Vans has grown steadily since its acquisition with the aim to be a $5 billion brand by fiscal 2023 under the VF Corp umbrella. Available in over 84 countries, Vans continues to generate deep and meaningful consumer connections around the world by celebrating creative expression through its brand pillars of art, music, action sports and street culture.
CravatexBrands Limited is part of The Batra Group, a global Indian business founded in 1949 by Mr. Ram Kumar Batra with headquarters in Mumbai, India and London, UK. The group has operations in Europe, UK, Middle East, India, Sri Lanka, Bangladesh, Nepal and Africa.
Managing Director of CBL, Rohan Batra commented, “We are delighted to add Vans to our 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. Our focus will be to grow the distribution of the brand through an expansion of the retail network with a target of 50 stores in the next 5 years and partnering with wholesale retailers both online and offline.
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’’
Vice President and Managing Director of Vans APAC, Scott Basham stated, “Vans is committed to enabling and inspiring creative self-expression around the world, and we are very enthusiastic to partner with CBL to reinforce our commitment in India. 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.”