US Polo targets to be Rs 1,000 cr brand by 2017/18

Arvind Lifestyle Brands which retails US Polo brand in India aims to make it a Rs 1,000 crores brand by 2017-18 up from the current Rs 600 crores. The company also said US Polo kids would become a Rs 100 crores business in 2015-16. The company recently opened a new store in Chennai.

Going ahead with its retail expansion plans for the brand, Arvind would invest around Rs 250-300 crores to launch new US Polo outlets across the country. The company also said that during the first six months, Arvind’s 20-25 percent growth was mainly driven by US Polo brand.

Arvind aims to expand US Polo's point of sales to 1,700 from the current 1,000 and the number of exclusive stores will be increased to 400 from current 220. The company plans to open most of the new stores through franchisee route. At present out of the 220 stores, around 40-45 are company owned.

US Polo is getting encouraging response even from the Tier II and III cities, which contribute around 40 percent of the total sales. The shoes range launched by the brand to test-market the product is also doing well and clocked around Rs 40 crores revenue against the target of Rs 100 crores. The brand has unveiled other accessories including inner wear, watches (to be launched before Diwali) and bags, which it expects to contribute around Rs 200 crores by 2018 from the current Rs 60 crores.