Domestic textiles brand Arvind Limited will invest Rs 300 crore over the next three years to expand its retail footprint.
The company aimed to double its revenue from retail business to Rs 800 crore by 2013-14 from Rs 400 crore by the end of this fiscal, said Kulin S Lalbhai, chief manager-retail, Arvind Limited at a press meet here today.
“Arvind is moving from a business-to-business model to business-to-consumer model. Over the next three years we will be building the brand Arvind and direct retailing business,” he said.
The textiles business of the company, which is expected to be close to Rs 4,000 crore by the end of this fiscal, is expected to be around Rs 8,000 crore over the next three years.
Arvind is also planning to launch Arvind Stores to showcase the best of the Arvind brand.
“The fabric retail business is central to Arvind’s strategy of rapid expansion if its domestic market share. By aggressively adding capacities to service the Indian market, and focusing on product portfolio and distribution channel, we hope to double the retail business,” said Lalbhai.
Also, Arvind will pursue an aggressive strategy of category expansion and retail channel expansion, for which the company is in the process of investing close to Rs 100 crore, with an annual capacity addition of 12 million meters in the current capacity of 200 million meters.
The retail business of the company would grow at a compounded annual growth rate (CAGR) of 35 per cent, said Lalbhai.
