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VF Arvind plans large format outlets across the country
13 Feb '08
2 min read
VF Arvind brand, the joint venture of US based VF Corp and Arvind Mills is planning to come up with big stores soon, as the retail outlets are getting popular among customers these days.
VF Arvind aim to give the consumers best available options under one roof. Price is an important aspect which needs to be taken care of as all brands should be on similar level.
While talking about the benefits, the brand, will get from the retail outlets, Mr K E Venkatachalapathy, Business Head - Mega Mart, in an exclusive interview with Fibre2fashion stated, “Arvind has been in Value Retail Business for the last 15 years through its chain of Megamarts of smaller size of 3000 to 5000 square feet. In that sense it is a pioneer in this business. Therefore it is logical to expand in the same business through large Format Stores. Arvind is planning to invest Rs400 crores in the next 5 years to achieve a turnover of Rs2000 crs from Value Retail”.
The Business Head further informed, “Our retail outlets will have many apparel and non-apparel brands from big business houses like Raymonds, Madura Garments, Levis, LMG and Arvind Brands etc”.
Mr K E Venkatachalapathy divulged that the joint venture with a ratio of 60:40, is going to require an investment of Rs400 crores. The Top 20 cities will have 30 Large Format Stores covering an area of 40,000 to 70,000 square feet and Small Format Stores, spanning 3000 to 5000 square feet will be opened in other 100 cities.
VF Arvind aim to give the consumers best available options under one roof. Price is an important aspect which needs to be taken care of as all brands should be on similar level.
While talking about the benefits, the brand, will get from the retail outlets, Mr K E Venkatachalapathy, Business Head - Mega Mart, in an exclusive interview with Fibre2fashion stated, “Arvind has been in Value Retail Business for the last 15 years through its chain of Megamarts of smaller size of 3000 to 5000 square feet. In that sense it is a pioneer in this business. Therefore it is logical to expand in the same business through large Format Stores. Arvind is planning to invest Rs400 crores in the next 5 years to achieve a turnover of Rs2000 crs from Value Retail”.
The Business Head further informed, “Our retail outlets will have many apparel and non-apparel brands from big business houses like Raymonds, Madura Garments, Levis, LMG and Arvind Brands etc”.
Mr K E Venkatachalapathy divulged that the joint venture with a ratio of 60:40, is going to require an investment of Rs400 crores. The Top 20 cities will have 30 Large Format Stores covering an area of 40,000 to 70,000 square feet and Small Format Stores, spanning 3000 to 5000 square feet will be opened in other 100 cities.
Fibre2fashion News Desk - India
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