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Textile firm Arvind Ltd today announced foray into e-commerce space with its custom clothing brand 'Creyate' and is targeting revenue of over Rs 1,000 crore in three years.
Arvind Ltd said it expects e-commerce to be a major growth driver the company moving forward.
Commenting on the announcement, Arvind Ltd Executive Director Kulin Lalbhai said: "Arvind Internet Ltd will be the vehicle that will enable Arvind's e-commerce vision. Arvind sees e-commerce as a key growth driver for the group and we aim to be Rs 1,000 crore plus business in three years."
Creyate intends to offer an alternative to ready-wear as well as traditional custom clothing and also has plans to launch stores in 15 cities within the next year.
It already has stores in Bengaluru, Ahmedabad and Delhi and offers home visits in major cities, the company said.
The company is also planning to take Creyate to global consumers next year starting with the US market.
"AIL is planning to take Creyate to global consumers next year starting with the US market, where online custom clothing is a large thriving market," the company added.
For the quarter ended June 30, the company reported 14 per cent growth in profit after tax at Rs 90 crore and revenues increase by 19 per cent to Rs 1,773 crore.
