You probably know Courvoisier as a cognac. You may also know some of Allied Domecq's other brands, such as Ballantine's, Beefeater, Stolichnaya, and Kahlua, not to mention the Baskin-Robbins, Dunkin' Donuts, and Togo's Eateries franchises. But back to the fashion news.
The "Atelier Courvoisier" fall collection will feature about two dozen pieces of "luxury sportswear" for men and women. A Wall Street Journalarticle (subscription required) notes that the company "believes the Courvoisier clothes can command top dollar. A deerskin trench coat might go for $10,000. A purse, made with silk ribbons and replica medallions from the Napoleonic era, costs $750. A bottle of Courvoisier cognac costs $26."
The company has invested about $600,000 in this new venture, and projects sales in its first year to ring in between $1.5 million and $3 million. But as the Journal noted, "The bigger goal is to help transform Courvoisier from liquor label to lifestyle brand."
It's not the only company to attempt such a transformation. Many firms have branched out into new directions, with varying degrees of success. Starbucks
There's no shortage of luxury brand names out there, so the Courvoisier clothing line will have to fight to be visible. And will enough consumers want to wear clothing unavoidably associated with alcohol? We'll see.
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Longtime Fool contributor Selena Maranjian owns no stock in companies mentioned in this article.