Arvind lifestyle brands to scale up current brand portfolio
Arvind Lifestyle Brand and Retail, a subsidiary of textile conglomerate Arvind Ltd is looking to consolidate and expand the presence of its inhouse and international brands across the country, said a top company official.
The Ahmedabad-based company has a portfolio of owned and licensed brands. Its own brands include Flying Machine, among others, while its licensed product brands include Tommy Hilfiger, Calvin Klein, Arrow, Gant, Nautica, Gap, Next, US Polo and Aeropostale.
“We have a large portfolio with 15 international brands and are currently looking at consolidation. The focus is to scale up our current portfolio especially US apparel brands which contribute about 30% to the total revenue of the company,” J Suresh MD & CEO of Arvind Lifestyle Brands told the Financial Express.
The textiles and apparel major Arvind Ltd had reported a consolidated net profit to Rs 96.92 crore for the fourth quarter ended March. Its total income during the fourth quarter was Rs. 2,493.19 crore as against Rs. 2,251.87 crore in the year-ago quarter.
The company is now looking at its lifestyle brand business to continue delivering double digit growth in the current financial year. Arvind brands has decided not to launch anything new this year and focus instead on the current portfolio.
Arvind is bullish about its brand Gap in India and has already planned to take its store count to 34 by next year from the current 11.
Apart from brick and mortar store Arvind brands is also banking heavily on online platforms to drive growth and expects it to contribute 15% to the total revenue in the next two years. “Brands such as US Polo, Arrow, Flying Machine, Aeropostale and GAP are doing very well on online platforms and we expect online sales to touch 15% in two years from the current 10%,” added Suresh.
Arvind Lifestyle Brands Limited owns and operates approximately 800 stores and 14.2mn retail space across India and has an online portal.
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