India’s textile and apparel company Arvind Limited is planning to build brand ‘Arvind’ into a Rs2000 crore (around US$370 million) business by 2018.
Arvind, a premium fabric label, clocked revenues of close to Rs500 crore in the last fiscal year, and is an important part of Arvind’s overall brand and retail portfolio.
The four fold growth strategy will see Arvind expand beyond its traditional distribution model with a rapid roll-out of its new retail format ‘The Arvind Store’ and growing in the premium fabric market with its new brand ‘Tresca’.
With 100 Arvind stores already up and running, Arvind now aims to grow the chain to more than 400 stores over the next five years.
Taking a step away from the conventional look-and-feel, The Arvind Store is a modern and futuristic layout to provide the best of Arvind merchandise under one roof. The Arvind Store franchise is likely to cross Rs600 crore in revenues by 2018.
Recently, Arvind introduced its premium fabric offer ‘Tresca’ to target the high-end shirt and suit market. With growing disposable incomes in India, the premium fabric market is experiencing high growth and Tresca aims to establish itself as a leading brand.
Tresca will offer premium products, contemporary international design and a lifestyle positioning. Arvind aims to build Tresca into a Rs250 crore brand over the next five years.
“Our aim is to make Arvind a Rs2000 crore mega brand in the next five years,” said Arvind executive director Kulin Lalbhai.
“It will be made possible with the rapid roll-out of ‘The Arvind Store’ format which will have over 400 stores and revenues of in excess of Rs600 crore by 2018.”
The Arvind Store aims to substitute the ‘old and weary mom-and-pop channel’ with modern retail, which matches the aspirations of modern India. It widens the portfolio of products offered to attract the younger customer – casual fabrics, denim fabrics and Arvind Denim Lab – a concept new to the consumer. It plans to expand in time to more than 500 cities it believes can sustain this model.
Tresca will be made available at leading retail outlets across India and is directly serviced by the company. It will showcase four collections in a year with over 2000 designs to choose from.