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Denmark:Sportswear retailer Redgreen on its way to
new brand strategy |
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2004-12-15
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Danish sportswear specialist Redgreen A/S is working on a new brand strategy, which will see it sell Choise and Liva, two brands that came into its portfolio with the acquisition of Danish sportswear company Danwear in spring 2003.
The Stilling-based company is selling the brands because it failed to produce buying and sales synergy with the rest of the group, according to Peter Henriksen, General Manager since 1 July 2004.
Redgreen also plans to outsource its warehousing and logistics, is refitting its stores and will move to new headquarters.
The steps are part of the group''s plan to turn Redgreen into a bridge brand, selling at prices 15 to 25 percent lower than brands such as Max Mara, Hugo Boss and Polo Ralph Lauren.
Redgreen stated it will reveal more details about its new brand strategy and its collection in January 2005.
The company expects turnover for the year ending 31 March 2004 to reach DKK400 million (€53.8 m). The Choise and Liva brands account for sales of approximately DKK45 million.
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