Vans will return to old styles, not old prices. (Retail).AFTER a tough year with its skateboard-oriented footwear, Vans Inc. is veering into a different direction. President and Chief Executive Gary Schoenfeld said the company would launch a new line of footwear in the next three to six months, called the Vault Collection, to capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. some of its old styles that were popular 30 to 40 years ago. But they won't carry an old-time price tag. The shoes for young men and women will sell for about $70 to $100 a pair. The average pair of Vans shoes sells for $40 to $70. "We saw an opportunity to dip into dip into Verb 1. to draw upon: he dipped into his savings 2. to read passages at random from (a book or journal) Verb 1. our vault of shoes and styles that have been popular over the last 35 years," Schoenfeld said. The company is talking to Noun 1. talking to - a lengthy rebuke; "a good lecture was my father's idea of discipline"; "the teacher gave him a talking to" lecture, speech rebuke, reprehension, reprimand, reproof, reproval - an act or expression of criticism and censure; "he had to about 50 small boutiques in major markets about carrying the line. The Vault Collection is one way Santa Fe Santa Fe, city, Argentina Santa Fe, city (1991 pop. 341,000), capital of Santa Fe prov., NE Argentina, a river port near the Paraná, with which it is connected by canal. Springs-based Vans is looking to get back into positive territory after posting a $2.6 million net loss during fiscal 2002, which ended May 31. The company has been hurt by the performance of its 12 skateboard parks, many of which have been supplanted by public skateboard parks that are usually free to users. Schoenfeld estimates that during fiscal 2003, Vans will lose $4.5 million on the parks. The company is streamlining its fee structure at the parks by offering membership passes that allow skateboarders to pay a lump sum Lump sum A large one-time payment of money. per week or month to skate skate, fish: see ray. skate Any of nine genera (suborder Rajoidea) of rounded to diamond-shaped rays. These bottom-dwellers are found from tropical to near-Arctic waters and from the shallows to depths of more than 9,000 ft (2,700 m). during certain hours. "If that doesn't work we'll be sitting down with landlords and asking about changing the rental structure," he said. Staff reporter Deborah Belgum can be reached at (323) 549-5225 ext. 228, or at dbelgum@labusinessjournal.com. |
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