Arvind looks to return licenses of Gant, Aeropostale, and Nautica
Sources told TNN that Arvind is looking to cease its licence agreement with three of its 28 international fashion brands due to poor sales. According to the sources, Arvind will shut down its Gant, Aeropostale, and Nautica brick-and-mortar retail outlets and may keep the products as Flipkart online exclusives until the licence agreements expire, after which Arvind will not renew them.
Arvind has held the licences to the Swedish brand Gand and US brands Aeropostale and Nautica for several years but sources reported that talks about terminating the business’ relationships with these brands began early this year. A decision is expected to be finalised in the coming months. Although no financials have been released from the brands, sources said that their performances were not up to expectations in India.
Arvind has not made an official statement on the matter. However, the business stated at an investor meeting in February that its three strongest segments were US Polo Assn, premium children’s wear brand Gap, and its beauty brand Sephora.
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