Arvind Brands, a division of Arvind Limited, would set up on an average 25 Megamart stores, its multibrand retail outlet, a year, said company chief executive officer (brands and retail) Suresh J.
The company would spend about Rs 250 crore over three years for expansion of outlets and brands. This is part of the Rs 400-crore outlay it prepared two years ago. It would launch IZOD brand in the premium segment in February next year to cater to clothing needs of sport, primarily golf.
Speaking to the media here on Wednesday on the sidelines of inaugurating the refurbished AS Abdul Khader store as Arrow lifestyle store, he said Arvind recently launched US Polo and Gant brands and repositioned Flying Machine in the denim segment, apart strengthening the suit segment in Arrow.
Arrow, on an experiment basis, launched women's collection in 20 of its 70 retail stores a fortnight ago to cater to new audience. With this, Arrow expects women’s wear would contribute about 15 per cent of the revenues in three years. Arrow’s annual business last year stood at Rs 230 crore.
Suresh said the company was making changes in its retail format following an in-house survey. “There is no serious or formal look that was associated with Arrow till three years ago,” he said, adding Arrow was growing at 20 per cent per annum. There were also plans for Arrow to foray into the kids segment.
AS Abdul Kader was launched in 1899 as a departmental store.
