Ahmedabad-based Arvind Ltd expects Rs 10,000 crore business from its textiles business in the next four to five years, a top company official said.
According to a PTI report: Besides, in the next three to five years, the company intends to invest Rs 1,500 crore in the textiles business to expand capacity of its existing units as well as set up new facilities.
The company is exploring newer areas such as athleisure, where it is sensing a significant opportunity.
“Overall the textiles business for us is around Rs 6,000 crore and we would take it to Rs 10,000 crore over the next 4 to 5 years,” Aamir Akhtar, Arvind Ltd CEO Lifestyle Fabrics – Denim told PTI.
The company expects to continue its CAGR growth of 16 percent and above in the coming years, he added.
Arvind Ltd is in the process of demerging its branded apparel and engineering businesses.
It has plans to list its branded apparel business, Arvind Fashions, into a separate entity. Arvind Ltd is in denim, knits & wovens and voiles textiles segments.
Denim contributes a large chunk at present, he said, adding that the company is also going for verticalisation.
“Rather than just manufacturing fabric, a large part of it would be converted into garments as well,” he told PTI adding “the significant customer base which we have, we would be one stop supplier for them and give them entire thing end to end.”
Besides design, Arvind would co-create and supply them the finished product after manufacturing.
Arvind Ltd showcased its exclusive denim collection named ‘GRAVITY’ along with Invista, one of the world’s largest integrated producers of fibres at its annual event called Arvind FESTIVE 2018.
FESTIVE 2018 also witnessed the launch of futuristic denim technology brands like E-Indigo, Boomerang 360, Boomerang Bounce, Chrome Cord and Hybrid Chinos.