Textile major Arvind is planning to produce 40 percent of garments in-house, from 10 percent at present, as it looks to notch up the turnover of its textile business to Rs 10,000 crore in the next five years.
“Presently, about 10 per cent of our fabrics are made into garments internally. We are targeting to grow this to 40 per cent of our production,” Aamir Akhtar, Chief Executive, Denims, Arvind told PTI.
According to a PTI report: For this, the company is adding capacity of 1 million meters annually, and expects 1 million garments to be produced internally per month over the next few years, he added.
Akhtar highlighted that Arvind’s denims business has about 40 percent marketshare in the organised denim market at present, registering a 8-10 percent annual growth.
“The company is looking to increase it to 15 percent,” he was quoted by PTI as saying.
The apparel major had earlier said it expects to increase the turnover from its textiles business to Rs 10,000 crore in four to five years, from Rs 6,000 crore at present.
“The company is also looking to expand its capacities in existing units and set up new ones in the next few years,” Akhtar told PTI.
Arvind is presently in the process of demerging its branded apparel and engineering businesses, and intends to list its branded apparels business, Arvind Fashions, as a separate entity.