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India's Arvind eyes ₹12,000 cr textile revenue in 5 yrs

19
Sep '18
Courtesy: Arvind
Courtesy: Arvind
India’s Arvind Ltd, which is now de-merging its brands and engineering businesses into separate entities, is planning to invest ₹500 crore every year for the next five years to double revenue from its textile business to ₹12,000 crore. Not much capital has been invested in textiles in the last few years, according to executive director Kulin Lalbhai.

Revenue from the company’s textile business now is around ₹6,000 crore. The de-merger process will be complete by end of the third quarter of this fiscal.

The expansion will be funded through internal cash flows, Lalbhai told a news agency. A substantial chunk of this planned investment will be for garment manufacturing.

The company is also planning to develop three large garment clusters in Gujarat, Jharkhand and Andhra Pradesh, each employing 4,000-8,000 workers.

The company already has a cluster operational in Ethiopia, which it uses to reach out to America and European markets.

Plans are also under way to enter active wear and synthetics and scaling up its technical textiles businesses. (DS)

Fibre2Fashion News Desk – India


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