Colombian finished product brand promises expansion
02/03/2012
President of Medellín-based of Cueros Vélez, Juan Raúl Vélez, has told local media that he is aiming for a total of 300 stores selling his bags, belts, shoes and other products by the end of 2015.
He said in 2008 that he thought the greatest achievement so far of the company he set up in 1986 had been to consolidate the strong position of the Vélez brand in the Colombian market. Local companies who hadn't built up brand names were going to face a fierce struggle at the low end of the market against imports from Asia, he warned.
With a presence already in Venezuela, Ecuador, Panamá, Costa Rica, Guatemala and Panama, the company has set its immediate sights on setting up new stores in the Dominican Republic, Aruba, Bolivia, Peru and Chile. Mr Vélez also said he had not ruled the possibility of taking his brand into the much larger markets of Brazil and Mexico.
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