India’s textile major Arvind Retail Ltd. is gaining pace in pushing global brands business further. The company recently added apparel brands like GAP, Aéropostale, Sephora and The Children’s Place, to global brands’ list, which already has name such as Ed Hardy, Tommy Hilfiger and Nautica.
The company was earlier supposed to open 12 GAP stores in two years’ time, but it has already opened 10 stores and is expected to have 14 GAP stores in the first two years of operations. Moreover, the company planned to open 40 Aéropostale stores in 4-5 years, but now the same numbers will be achieved in next 2-3 years. Similarly, Arvind so far has 7 The Children’s Place stores and is planning to beat its target of 12 stores with a total of 15 outlets by the end of fiscal 2017 with additional 15 shop-in-shops as well.
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Suresh, Chief Executive Officer – Retail and Brands Business, Arvind told a leading Indian daily, “Earlier we had said that these four brands would have revenues of Rs. 2,000 crore in the next five years but now given the good response we have stepped up on our expansion plans and will achieve this in coming four years.”
