Arvind invests Rs 1,500 crore to scale up garment production
Arvind Limited is investing Rs 1,500 crore ($225.5 million) in order to increase its garment production capacity six-fold.
In response to the growing demand for branded clothing and finished garments, Arvind Limited, which mainly manufactures textiles, is investing to greatly increase its garment production capacity. A total of Rs 1,500 crore will be invested over the next three years which is estimated to allow for a six fold increase in the business’ finished garment production.
Arvind is the manufacturer for both Arrow and US Polo Association apparel in India and is looking to greatly expand upon this. “Today, we convert only 10% of our fabrics into our garments… we are taking that to 60%,’’ Arvind’s Executive Director, Kulin Lalbhai told the Economic Times. Lalbhai also mentioned that the increased production capacity will create between 30,000 and 40,000 jobs related to the business.
“Now that fast fashion is taking over and supply chains need to become faster, creating what we call full-packaged solution, which is you’re selling a garment directly to a brand — that’s the mega trend in the world,’’ said Lalbhai. Arvind is focused on catering to this growing trend and sees it as the way forward for the business.
As part of the investment plan, new large-scale factories will be opened in Gujarat, Karnataka, Jharkhand, and Andhra Pradesh. These factories will collectively employ around 10,000 workers. This move is part of Arvind’s plan to double its textile production by 2022.
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