Arvind to revamp Arrow

Arvind Brands Ltd, part of the Rs 2,000-crore Lalbhai Group, is planning to revamp the formalwear brand Arrow. Arrow will now be positioned as a complete lifestyle brand with greater stress on womenswear and semi-casuals. The company will also increase the focus on denimwear under the Arrow brand.

Company's COO Suresh J said they were in talks with the Italian denimwear brand Diesel to launch it in India, but did not say when it would be launched.

Arrow is owned by US-based Phillips-Van Heusen Corporation and Arvind is a 100 per cent licensee for the brand in India. According to Arvind Brands, Arrow recorded a turnover of Rs 150 crore in the 2006-07 fiscal in India.

The company is also planning to take the number of exclusive Arrow stores from the present 50 to 60 by the end of this year and 100 in the next five years. The stores will be both franchisee and company-owned. Arvind will spend about Rs 10 crore on advertising and another Rs 10 crore on increasing the number of stores.

Although the brand will not be available in tier II cities through exclusive outlets, Arvind will sell Arrow in these cities through its apparel discount chain Megamart.

The company is also planning to increase the number of Megamart stores in India from the present 54 to about 64 by the end of this year, for which it will invest between Rs 30 crore and Rs 40 crore. And aims to take it to about 100 cities in the next five years from 16 cities at present. All the Megamart stores will be company-owned, Suresh said. Megamart recorded a turnover of Rs 100 crore in FY 2006-07.