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Arvind Lifestyle to invest Rs 126 crore capex this fiscal

July 02, 2014 (India)

Mr J Suresh
Mr J Suresh
Arvind Lifestyle, the clothing brand and retail division of textile major Arvind Ltd is planning a capex investment of Rs 126 crores in the current fiscal year against Rs 96 crores, which will be used to add around 200 stores across India.
 
Speaking exclusively to fibre2fashion, CEO of Arvind Lifestyle – Mr J Suresh said, “Mainly we will spending on adding more stores within our portfolio of 15 brands like US Polo, Arrow, Nautica, etc and also Megamart. We currently manage around 1100 stores and with the addition of 200 more stores, we expect to touch around 1300 stores by the end of this fiscal year.”
 
Revenues of Arvind Lifestyle stood at Rs 1750 crores in the previous fiscal year ending March 31, 2014 and it hopes to close this fiscal year with sales of Rs 2500 crores. 
 
“Arvind Lifestyle will be able to add 42% to its topline in the current year from new store openings as well as since revenues from recent brand additions like Hanes, Calvin Klein, Ed Hardy, Nautica have now started climbing”, he adds.  
 
Arvind Lifestyle contributes 30% revenue and 17% to net profits of its parent – Arvind Ltd. Mr J Suresh expects this revenue to mount to 40% in the next 1-2 years.
 

Fibre2fashion News Desk - India
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