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India's Arvind aims ₹10,000 cr business from textiles
Apr '18
Ahmedabad-based Arvind Ltd expects ₹10,000 crore business from its textiles business in the next four to five years, according to Aamir Akhtar, company’s CEO for lifestyle fabrics-denim. It also plans to invest ₹1,500 crore in the textiles business in the next three to five years to expand capacity of existing units and set up new facilities, he said.

The company is exploring newer areas like athleisure and expects to continue its compound annual growth rate of more than 16 per cent in the next few years, Akhtar told a news agency recently.

The company is also in the process of demerging its branded apparel and retail and engineering businesses as part of restructuring its business.

The integrated textile company is working towards closing the demerger by October 2018 that will result in three separate entities, each of which will look at three key businesses — textiles, including fabric, garments and technical textiles, branded apparel and retail, and engineering.

This will result in branded apparel and retail business being demerged into the current subsidiary Arvind Fashions Limited while engineering will go under Anup Engineering. The textile business is, however, going to remain in Arvind Ltd.

Leading brands such as GAP, Levi Strauss & Co, H&M and Patagonia are Arvind’s key customers. (DS)

Fibre2Fashion News Desk – India

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