Kipling repositions brand to draw the fashion public
Valor Econômico - 01/22/2008
Founded in Belgium, the brand of bags and accessories that appeals mainly to the younger public is repositioning itself in the market in order to become a fashion brand and also draw more consumers above 20 years of age and sophisticated taste. The first action in this regard was taken yesterday at the São Paulo Fashion Week, more precisely at the fashion show of the designer Gloria Coelho, who created four bag models for Kipling. Present in 55 countries, Brazil is leading this process of turning Kipling into a fashion brand. "This is one of the most important changes we have already promoted in the company and Brazil is the first country where we enter into a partnership with a designer", said Kipling's international president Richard Macey, who came to Brazil especially to attend the SPFW fashion show. Since 2004, Kipling belongs to American group VF Corporation, which at the time paid US$ 180 million for the brand of bags and accessories. Besides Kipling, the group holds 45 lifestyle, jeans, knitted fabric and lingerie fashion brands. Among them are Lee, Wrangler, Vans, 7 For All Makind, Lucy, Nautica, and others. In the third quarter of 2007, the VF group registered net profits of US$ 207.2 million, an increase of 153.7% when compared to the same period of 2006. After the sale for the VF group, the brand has been playing its chips strongly on the development of modern products and designs. The Brazilian unit has a position of prestige for the company. In terms of sales, it is ranked as one of the three largest ones in the world, only behind those from the United Sates and Italy. In Brazil, the brand is present in 750 multibrand stores and has 30 stores of its own from a total of 150 that Kipling has in the 55 countries where it operates.