Aeropostale to add 15 stores, eyes Rs 500 crore revenue
American fashion brand Aeropostale is betting big on the Indian market and focusing on the youth segment to drive sales in the coming years. The company is planning to open 15 stores during the current financial year.
Arvind Fashions Ltd which owns the exclusive rights to sell the brand in India is expecting sales revenue to touch Rs 500 crore (approx $ 76 million) over the next 3 years. The brand generated revenue of Rs 100 crore (approx $ 15.2 million) for the financial year 2017-18.
Aeropostale has already started rolling out its expansion plan and recently opened an exclusive brand outlet in the city of Surat which is the brand 33rd store in the country.
“Aeropostale did Rs 100 crore business in 2017-18 and going forward, we see ourselves doing Rs 500 cr in next 3 years. It is one of the fastest growing brands in Arvind Fashions’ bouquet since it entered India in 2015," said Sumit Dhingra, CEO of Heritage Brands Division at Arvind Fashions Ltd, to the Economic Times.
“In 2018-19, the brand will add 12-15 new stores pan-India. We have our pricing right and the positioning right in the highly underserved market for 15-25-year-olds,” he said.
The brand is also looking to expand its brand portfolio to scale up its operations in the country and will soon enter the booming kid’s category with its leisure and apparel range.
“The brand will focus on at leisure and kids apparel too soon. While apparel and accessories have been going phenomenally well for us, we look at new categories to ramp business in India,” he added.
Arvind Limited is India’s leading textile and apparel firm which owns brands such as Flying Machine; as well as licensed product brands such as Arrow, GAP, Gant, Izod, Aeropostale, Nautica, US Polo Assn, among many others.
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