US Polo Association (USPA), an American apparel retailer, thinks India could eventually become its biggest market in the long-term. Its Indian licensing partner, Arvind Fashions, wants to scale the brand’s revenues to US $ 343 million (Rs. 3000 crore) over the coming years, with a double-digit growth target.
United States Polo Association (USPA Global) President and CEO J. Michael Prince stated that the organisation has increased its business since 2018 and has had a fantastic run as a brand worldwide. The market with the fastest growth for the organisation has been India. In his view, India has the capacity to become into the company’s biggest market in the long run. Great global partners have supported the brand’s expansion, even during difficult times, like India.
In 2009, the brand entered India, which is now its third-largest market. Today, it is sold through 450 exclusive brand stores, with the internet accounting for more than 20 per cent of the brand’s total sales.
Arvind Fashions Ltd.’s MD and CEO, Shailesh Chaturvedi, stated that the company has surpassed the US $ 229 million (Rs. 2000 crore) revenue milestone and is a definite market leader in the casualwear sector in India. According to him, the goal is to increase the brand’s revenue to US $ 343 million (Rs. 3000 crore) in the upcoming years. He thinks its potential for growth is between 12 and 15 per cent CAGR, with the Indian market being well-poised for the company to achieve this growth.
The brand has received significant investments in advertising, retail space growth, and backend strengthening. The business keeps opening new locations and broadening its product line beyond menswear to include womenswear, childrenswear, footwear and innerwear, he noted.
Additionally, attempts have been taken to premiumize the brand, according to Chaturvedi. A K-shaped recovery has been observed since COVID, with premium products experiencing faster growth rates in sales. According to him, stores are being updated to maintain the brand’s relevance and investments are being made to strengthen the brand’s connection with Indian consumers.
Over the next few months, the company anticipates that US Polo’s footwear division will grow to a value of US $ 56.17 million (Rs. 500 crore).
According to Prince, the company sources from a variety of countries, with India accounting for around 10 per cent of its global output.He continued by saying he sees long-term prospects to increase his sourcing from India. Currently around 80–85 per cent of the brand’s merchandise marketed in India is manufactured in the country itself.
