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Arvind eyes Rs 10 bn from retail operations
24
May '10
Arvind Ltd, with a turnover of Rs 25 billion, is a vertically integrated textile operator with interests ranging right across from cotton farming to clothing retail, is now laying emphasis on value-retail and life-style brands in order to touch a turnover of Rs 10 billion from its retail operations.

Last year, the parent company officially de-merged its apparel retailing segment into two divisions; viz, Arvind Lifestyle Brands and Arvind Retail. Arvind Lifestyle Brands caters to the upper middle-class and above segments with brands like Arrow, US Polo, Izod and Gant in its portfolio.

Arvind Retail on the other hand is focused on value-retailing through its Mega-Mart chain of stores, particularly for the large Indian middle-class population.

This decision to officially de-merge in to two divisions was taken after the strategy was successfully implemented, which resulted in the turnover from retail operations shooting up from Rs 2 billion five years back, to Rs 4.4 billion. The apparel retail segment turnover has now touched Rs 5.5 billion in the fiscal year ending March 31, 2010.

With regards to its apparel retain chain; MegaMart, it growing very swiftly and are adding around three new outlets. Arvind is contemplating taking the store count to 185 by the end of the current fiscal year by adding 35-40 stores.

Recently, the clothing retail also signed an agreement, to distribute the US based, Cherokee brand in the Middle-east lucrative market countries like Saudi Arabia, UAE, Bahrain, Qatar, Oman, Kuwait and Egypt. This agreement is expected to boost the topline by Rs 300-400 million in the second year of operations.

In its lifestyle garment brands portfolio, it intends to expand the store count of the Arrow brand from 75 to 100 this year, along with which it also plans to open US Polo and Izod stores. However, it has no plans to introduce any new brands of its own, but would rather bring in global brands for their aspirational value.

Considering that the retailing division of Arvind Ltd has been able to chalk out a turnover of Rs 5.5 billion, it should be able to reach Rs 10 billion within the next two years, taking in to account the expansion plans of all the brands in its portfolio.

Fibre2fashion News Desk - India

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