Arvind aims for 10-12 percent rise in textile biz in FY16

Seeing good days ahead, Arvind hopes to clock in 10-12 percent growth in textile business in FY16. This expectation is driven by growth in denim with 4 percent growth, woven with 10 percent and garments with 35 percent rise. The management of Arvind is expecting to double revenues and margins in the brands and retail business over the next three years, states a Motilal Oswal report.

Arvind is also looking at setting up six more GAP stores by the end of FY16 and 15 stores by the end of FY17. ‘The Children’s Place’ launch is likely by Q3FY16. Arvind will also launch its e-commerce portal by November 2015. It will have its entire brand portfolio as well as private labels. The management is eyeing exclusive international brand tie-ups for e-commerce, adds the report.

Arvind Lifestyle Brands is a subsidiary of Arvind Ltd, a group associated with textile business in India. It produces denim fabrics and supplies them to a large number of fashion brands across the world. Arvind has brought various international brands to India. It brought Arrow to India in 1993 and has licensing relationships with Arrow, Gant, Nautica, US Polo Association, Ed Hardy, Elle, Hanes, Cherokee, Mossimo and Geoffrey Beene. Arvind also has a portfolio of 12 of its own brands.