India’s largest textile maker sells foreign labels like Nautica, Tommy Hilfiger and Ed Hardy. Last year, it had added four more brands to its portfolio. These brands are Sephora, GAP, The Children’s Place and Aeropostale.
It is expected that in 2016-17, Arvind will open 200 stores across its value, lifestyle and foreign brands. The company is eyeing to close the financial year with 18 per cent increase in sales. The revenue of the brand grew 11.3 per cent to Rs 1,966 crore for the nine months ended December 31 whereas the revenue has moved 11.9 per cent to Rs 737 crore for the quarter ended December 31.
The company is planning to open six more GAP and Sephora stores and ten more Aeropostale and TCP stores.
Arvind has decided to expand the business when domestic brick and mortar retailers are facing a tough competition from online stores. These online stores are attracting customers by offering heavy discounts.
Arvind Retail has also made it clear in a statement that in the coming year, it won’t be launching more foreign labels in India. It will be concentrating on consolidating and expanding the brands that they already have.