Arvind Ltd, India’s leading textile manufacturer is planning to open 120 retail format stores in five states of the country this fiscal.
Arvind Ltd, India’s leading textile manufacturer is planning to open 120 retail format stores in five states of the country this fiscal. The new stores will be opened via company ownership as well as franchise model in the ratio of 50:50. The company is targeting expansion in states like Gujarat, Rajasthan, Maharashtra, West Bengal and Andhra Pradesh. At present, the company has 16 such outlets, branded ‘Arvind stores’ out which three are company owned and rest of the 13 are franchised outlets.
The investment requirement for each store is expected to be of Rs 50-70 lakh and offer Arvind’s apparel brands and also custom-made fabric and denim solutions. Moreover, the company is aspiring to expand all over the country, taking the count of Arvind stores to 250 by 2012-13. Further, the company has set a target of Rs400 crore from this segment by the closing of FY 2013.