Textile-to-retail conglomerate Arvind Limited has launched of its ready-to-wear brand which will be available across its 50 stores in Gujarat and Karnataka, to begin with.
According to a PTI report: The ready-to-wear brand called Arvind, which will have clothes under three categories of work, leisure and ceremonial, will be available at the company’s The Arvind Store across Gujarat and Karnataka before expanding to its 170 stores across 100 cities, Executive Director, Arvind Limited, Kulin Lalbhai told reporters.
“We have a very large retail platform (The Arvind Store), and such a platform to sell our new ready-to-wear brand is very helpful. We will be immediately opening up to customers through this channel that is well established today, unlike 10 years ago,” Lalbhai was quoted by PTI as saying.
“We want to stand with innovation, and our new brand is about the marriage of innovation with Indian pride. We are expanding in many directions. From shirting fabric brand, we are now full lifestyle brand, making presence through our 10,000 points of sale and 170 brand stores which were started five years ago,” he was further quoted by PTI as saying.
Lalbhai said the company is looking at a turnover of Rs 100 crore in the next 3-5 years in a US $10 billion organised retail brand market which is growing at a rate of 15-16 per cent year on year.
He said that in terms of pure growth, the newly launched brand will outpace the company’s fabric business. The brand consists of products which offers athletic leisure as a trend along with a technologically enabled bi-stretch super light outwears in both formal and ceremonial categories.