According to a PTI report: The company expects to launch about 30 stores in five years, targeting a turnover of Rs 200 crore.
“As the partnership grows, True Blue will launch 25-30 stores in five years across India targeting a turnover of about Rs 200 crore,” Chief Executive, Arvind Fashion Brands, Rajiv Mehta was quoted by PTI as saying.
True Blue is joint venture between Arvind Fashion Brands and Sachin Tendulkar and it’s first store is launched in Mumbai.
While Mehta did not reveal the terms of the partnership, he said the apparel range has been designed keeping in mind Tendulkar’s persona, showcasing over 300 styles.
Menswear is the largest segment in India’s apparel market, accounting for approximately 42 per cent of the overall segment and is expected to grow at 8.5 per cent in the next five years.
Mehta elaborated that with True Blue, the company aims to make the menswear category unboring and more content fashion driven.
True Blue is the third brand under this division, which was set up in early 2015. The other two brands, Prym and Shuffle, are primarily digitally-driven labels, while True Blue will follow an offline and online model.
The offline launch comes strategically in conjunction with Arvind’s recent launch of its omni-business initiative Nnnow.com.