Fashion group Victorio & Lucchino on Friday unveiled plans to launch a new value-priced youth line as part of a $7 million expansion programme.

The Seville-based company said the new JV line will be supported by new stores in Valencia and Barcelona and added it also plans to open a range of specialty T-shirt and sunglasses stores.

The investment will take place over the next couple of years with the aim of tripling turnover to more than $20m by 2005.