Arvind Retail Ltd, India’s largest textile maker, is going to open 200 new stores across its value, lifestyle and foreign brands as part of its expansion plans. The brand that sells foreign labels such as Tommy Hilfiger, Nautica and Ed Hardy plans to leverage from its foreign brands, expect an increase by 25 per cent in apparel sales next fiscal.
J Suresh, Managing Director and Chief Executive of Arvind Retail and Arvind Lifestyle Brands Ltd, said, “You will see good expansion in these brands, so a large part of the growth will come from these newer formats.”
Last year, Arvind added four more brands to its portfolio — GAP, Aeropostale, Sephora and The Children’s Place (TCP). Similarly this year, brand has decided to add more outlets to sell GAP, Sephora and Aeropostale merchandise in the big cities.
In the 2016-17 fiscal, GAP and Sephora will each add six more stores, while Aeropostale and TCP will get another 10 stores each. Although there is no possibility for further launches of foreign labels in India, the brand plans on consolidating and expanding with the help of brands they already have. The company expects to close the financial year 2015-16 with an 18 per cent increase in sales and revenue grew 11.3 per cent to Rs.1,966 crore.
