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Brazil brand Osklen announces 5-year growth plan for US

By Sara Ehlers

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Business

Brazil-based brand Osklen has recently announced plans to introduce new stores in the U.S. The ready-to-wear beach-inspired brand will roll out 10 stores in the U.S. including Los Angeles and New York locations.

It’s all a part of Osklen’s five-year growth project. According to WWD, the brand hopes to open those ten stores within the next five years. The company has already committed to investing more than 5 million dollars in order to set this plan in motion. “The idea is to have 10 stores, to grow in wholesale and launch e-commerce in two years,” Oskar Metsavaht, founder and designer of the brand, told the publication.

Although the total amount of stores won’t be operating fully until 2020, the brand plans to open its New York and Los Angeles locations within the next 12 months. The brand currently has two existing locations in the U.S. in Miami and SoHo.

The Brazilian label is known for its high-end beachwear. The ready-to-wear line offers footwear in addition to its apparel. Although the brand is planning to expand, according to reports by WWD, Osklen isn’t doing the best business-wise. The company’s second-quarter earning statement reported gross revenues down by 3.3 percent. However, the growth-plan is geared towards expanding and growing their market more in the U.S. Metsavaht also told the publication that the U.S. economy is recovering from the recession and “doing better than Europe.” For turning things around, Osklen still has a chance with its 5-million-dollar budget.

Osklen