Van Heusen – the premium men’s wear brand from the house of Madura Garments, has entered the innerwear segment with the launch of its IQ (intelligent clothing) range of briefs, vests, thermals and loungewear for men.
According to Hemchandra Zaveri, President, Madura Garments, entering the segment was a logical extension of Van Heusen’s current business plan. “We have endeavoured to move beyond a product brand to a wardrobe brand and further on to a lifestyle brand,” Zaveri said.
He added that the innerwear range would not be clubbed with the rest of the brand’s accessories segment. “We look at innerwear as part of apparel and will treat it as a core area,” he shared. In keeping with this strategy, the Van Heusen Power Dressing positioning will extend to its innerwear line.
The men’s innerwear market is currently estimated at around Rs 2,500 crore with volumes of around 350 million units. The major players in the segment today include Jockey and VIP. Sharing insights on the market, Vasanth Kumar, VP (Sales & Marketing), Madura Garments, said that the biggest growth in the innerwear section is coming from the mid to premium platform. According to him, the Rs 90-plus category is recording a 20 per cent growth while the popular section priced between Rs 40 and Rs 90 is growing at a humble 12 per cent per year.
The Van Heusen range of innerwear, priced Rs 110 and above, is eyeing at the premium market, which is estimated at Rs 300 crore. The new launch, as part of its retail strategy, will initially be available at Planet Fashion and Trouser Town stores along with exclusive Van Heusen stores at shopping malls.
Van Heusen has been building on its lifestyle brand positioning with several recent additions including suits, t-shirts, informal wear and now inner and loungewear.