by Apparel Resources News-Desk
11-January-2019 | 2 mins read
Arvind Fashions Ltd., a subsidiary of Arvind Ltd., is reportedly aiming to double up its revenue to Rs. 8,000 crore in the next 5 years.
The company, after the de-merger from Arvind Ltd., will drive the growth through new product extensions, value retail and cosmetics business. The company is also aiming on the value retail segment through its store chain Unlimited which currently has 100 stores and is expected to touch Rs.1,000 crore revenue next year.
“Product extensions such as innerwear and footwear are growing dramatically, contributing 10% to the overall sales. Kidswear is another growing segment contributing 10% to our overall sales as customers are willing to spend money on products which have a shelf-life for three to four months.” – Kulin Lalbhai, Executive Director, Arvind Ltd.
Arvind Fashions is all set to be listed individually in the coming weeks. “This is a vertical listing and we are not raising any money. Independent businesses end up creating a lot more value and we are confident that the business has achieved the scale to stand independently,” added Lalbhai.
Arvind Fashions identifies e-commerce as a growth strategy medium as it seeds Arvind brands in cities and towns where the company do not have a presence. The outlook for the future entails tracking the online demand from cities like Kanpur, Jalandhar, etc. and later open a store there.
Arvind has recently started selling Sephora products on its website Nnnow.com, and is aiming to turn Sephora into an over Rs.500 crore business in three years.