Indian textile and apparel conglomerate Arvind Limited is aiming to increase its business from Rs. 6,000 crore to Rs. 10,000 crore in next five years. This has been revealed by a senior official of the company.
“We have enough regular cash flow for our expansion. Initially, we have plans to invest Rs. 1,500 crore over the next three years to complete the target,” Susheel Kaul, CEO, Lifestyle Fabrics, Knits and Wovens of Arvind Ltd. was quoted as saying in a statement given to media. “Verticalisation will be a focus area for the company as it is a new revenue line for us,” added Kaul.
Denims, knits and wovens, and women’s brand ‘Ankur’ are major offerings of the company under its textile division. Additionally, the company is also planning to double up its workforce of 43,000 in times to come.
New technologies will also be adopted by the textile conglomerate which will lead to more garmenting. Ramping up advanced materials’ division which is into specialised textiles will also be carried under expansion plan.
Notably, Flying Machine, Tommy Hilfiger, Calvin Klein, Arrow, Gant, Nautica, Gap, and Aeropostale are the major brands marketed by Arvind. The company reported an 18 per cent increase in profits to Rs. 115 crores in the fourth quarter of last fiscal. The textile company is hopeful of similar growth trend in the coming quarters as well.
