Sep, 26 2016

Arvind Group pulls up its socks to explore the footwear retail sector

Arvind Group has recently joined hands with India's ace cricketer Sachin Tendulkar to launch its men’s apparel brand 'True Blue'. Now, the company is looking to expand the market presence of its brand.

By Franchise India Bureau
Arvind Group pulls up its socks to explore the footwear retail sector

Moved by the boom in the footwear market, Arvind Group, Textile-to-retail corporation, has decided to step into this US $5.2 billion industry. Currently, big players such as Bata, Metro, Mochi and Reliance Footprint are dominating this sector and with Arvind Group joining the race, the competition is certainly going to get stiffer.

Recently, company has hired Rajiv Mehta, former MD of Puma India, as its new CEO of Arvind Sports Lifestyle & Arvind Fashion Brands. Mehta is expected to churn the business wheel of the company with enormous amount of experience that he has of the footwear sector.

During his interaction with one of the dailies, Mehta told that the company has opened its first store under the brand name of 'Stride' in Bengaluru. Compared to the world average growth of 5 per cent, footwear retail in India is growing at a CAGR of 20 per cent. The average cost of setting up a 'Stride' store is around Rs 2,200 per square feet. Despite much of probing, Mehta didn't reveal any information about the expansion strategy of the brand and its investment figures.

Brand would like to weigh its options for expansion including rental cost of locations. It would not be prudent to expand fast and then shut stores. Its expansion strategy would be a mix of company-owned and franchisee stores, said Mehta.

'Stride' will start operations by selling Arvind's in-house footwear brands such as US Polo, Arrow and Flying Machine. It will also stock premium brands such as Cole Haan, Johnston & Murphy, Heatwave and Bugatti with which Arvind has entered into exclusive licensee agreements.

Arvind Group has recently joined hands with India’s ace cricketer Sachin Tendulkar to launch its men’s apparel brand 'True Blue'. Now, the company is looking to expand the market presence of its brand by opening 25 stores to take its revenue to 200-300 crore in the next five years.  

Related: MUCB Menu for EPL Season

Click Here to add Comment
Please add your Comment
Rating
Insta-Subscribe to
The Franchising World
Magazine
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
OR Click here to Subscribe Online
Sell Business 2017
Sell Franchise 2017
Daily Newsletter

Submit your email address to receive the latest updates on news & host of opportunities.

Most
Entrepreneur The Franchising World Retailer 2017




Newsletter Signup
Submit your email address to receive the latest updates on news & host of opportunities.
Franchise India Holdings Ltd

Copyright © 2009 - 2017 Franchise India Holdings Ltd.

The information contained herein is of generic nature only, and Franchise India is not, by means of this website or any part thereof, rendering professional advice or services. Before making any decision or taking any action that might affect your finances or business, you should consult a qualified professional advisor. Your use of this website or any of its pages or links given, is at your own risk and you assume full responsibility and risk of loss resulting from your usage. With respect to use of the website, kindly visit www.franchiseindia.com/terms.

X

Tell us what you think!