- Meenakshi Kumar |
Textile major Arvind is planning to invest Rs 300 crores and set up a textile and apparel park in Andhra Pradesh. The project will be completed in phases and spread over 100 to 125 acres with a capacity to produce 24 million pieces of shirts and jeans per annum. The apparel park is expected to generate employment for around 15,000 people.
Textiles is a priority sector for Andhra Pradesh as the state aims to increase productivity and efficiency by attracting integrated textile units. Arvind is eyeing 20 per cent growth in the current financial year and has been investing heavily in scaling up its operations from expansion of its brand outlets to setting up new manufacturing units. It had posted strong numbers for the third quarter with revenue of Rs 2,706 crores and profit after tax at Rs 90 crores.
Arvind Brands offers a wide array of fashion brands in India. Its bouquet of brands – both homegrown and global – straddles lifestyles, categories and price points. International fashion brands wanting to enter India are keen to partner Arvind. Every season Arvind sources over 30 million products. Arvind’s brands are retailed through over 1,300 standalone stores and about 5,000 departmental and multi-brand stores in over 192 cities and towns across India.