Arvind Lifestyle Brands is looking ahead to add 300 more stores in two years. The company presently runs 1,050 outlets and adds around 150 stores every year.
Arvind Lifestyle Brands is looking ahead to add 300 more stores in two years. The company presently runs 1,050 outlets and adds around 150 stores every year. Arvind Lifestyle, a subsidiary of the country's largest integrated textile and apparel company Arvind Ltd, will also invest up to Rs 200 crore every year for expansion of its retail network, reported PTI.It is expecting up to 70 per cent of its total sales coming from the portfolio of international brands it retails in the next couple of years. "Presently, international brands contribute around 60 per cent of our turnover and rest 40 per cent comes from our own brands. It (share of international brands) may go up to 70 per cent in two-three years," Arvind Lifestyle Brands MD and CEO J Suresh was quoted as saying by PTI.
The company has franchise agreement with 14 international brands, including Gap, Calvin Klein and Aeropostale, as well as 12 in-house brands. “As per the strategy, the company offers premium foreign brands for the aspirational class and domestic homegrown brands for the mass segment. As the country develops in the fashion space, aspiration brands would do very well. We need to take a position there and the same time, in the areas of value segment, we are building our own position because there international brands are not a big draw," he further tells the news agency. It is also working on ramping up its presence in the e-commerce space. This channel may contribute up to 15 per cent of the total sales.