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Arvind ventures into footwear retail with 'Stride' store
28 Sep '16
1 min read
Vertically integrated textile company Arvind has ventured into the footwear retail segment, by opening its first branded store ‘Stride’ in Bengaluru. To begin with, the store will stock footwear from current Arvind brands like US Polo, Arrow and Flying Machine. It will also retail from brands like Cole Haan, Johnston & Murphy, Heatwave and Bugatti.
Rajiv Mehta, CEO of Arvind Sports Lifestyle told a leading daily that the average cost of setting up a Stride store is around Rs 2,200 per square feet and stores to be opened in the future would be a mix of company and franchisee owned.
Mehta also said that Arvind would open Stride outlets in a calibrated manner and not expand fast and then shut stores.
He also added that while the global footwear market was growing at a CAGR of 5 per cent, in India it was increasing at 20 per cent. (AR)
Rajiv Mehta, CEO of Arvind Sports Lifestyle told a leading daily that the average cost of setting up a Stride store is around Rs 2,200 per square feet and stores to be opened in the future would be a mix of company and franchisee owned.
Mehta also said that Arvind would open Stride outlets in a calibrated manner and not expand fast and then shut stores.
He also added that while the global footwear market was growing at a CAGR of 5 per cent, in India it was increasing at 20 per cent. (AR)
Fibre2Fashion News Desk – India
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