Arvind Ltd confident of online growth amidst uncertainty in the sector
Arvind Ltd, India’s leading textile and apparel manufacturer, is expecting its sales from e-commerce to rise in the coming months despite uncertainty in the sector after tightening of norms by the government for e-commerce companies in the country.
Arvind Ltd believes that the recent amendments in the sector will have very little impact on the e-commerce sector and is confident that the sector will be back on track in some time.
The company expects its online sales from e-commerce firm to double in the coming years. Currently, online sales contribute around 15 percent to the company’s overall revenues and it expects to be around 30 percent in the next few years.
“One thing you cannot stop is this (online retailing) business will become 30% (of the overall organised market) in the years to come. It is happening everywhere in the world and no regulation can change that. There will be short-term panic, but it will even out in the long term,” Kulin Lalbhai, executive director of Arvind Ltd told the Economic Times.
“E-commerce sales account for 15% of Arvind’s retail sales and it is growing at 60-70% every year. If online becomes 30-35% of my business, I better be good at that. For me, Myntra and Flipkart are like malls and if I am good in a physical mall, then I’ll have to be good on Myntra and Flipkart, too. The beauty is that products are now going to places where they have never been before. Any PIN code in India today has access to my brands,” he added.
Arvind Limited is a leading player in India’s textile and apparel market. It owns the India licenses for brands like Tommy Hilfiger, Calvin Klein, Arrow, Gant, Nautica, Gap, and Aeropostale.
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