Arvind to close down loss-making Unlimited stores
Arvind Fashions plans to close down some of its brick-and-mortar stores for its brand Unlimited as the value fashion chain’s performance in the north of India fails to match that of in the south.
The brands and retailing arm of Arvind, Arvind Fashions, plans to re-evaluate its Unlimited stores and close down loss-making retail outlets to allow it to focus on profit, sources told TNN. The business has also slowed down its expansion plans for all other labels except for international fashion brand Calvin Klein.
“Unlimited, Arvind’s value retail format brand with over 100 stores, is making losses due to a large number of under-performing outlets in North India,” a source told TNN. “The brand plans to focus on South India and regions of Maharashtra to achieve break-even by FY20.”
Unlimited retails a range of private brands including Excalibur and Ruggers for men and Karigiri and Cherokee for women. “Going forward, Arvind plans to focus on innerwear through US Polo, kids’ wear through US Polo Kids, Tommy Hilfiger, Gap and The Children’s Place,” said the sources.
Arvind Fashions is headquartered in Bengaluru and the business also retails a number of international fashion brands in India including Gap, US Polo, Nautica, and Arrow.
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