Arvind Ltd today announced its foray into e-commerce with custom clothing brand 'Creyate' and said it aims to reach Rs 1,000 crore revenue from e-commerce in three years.
"....We see e-commerce as the next big thing, we are convinced that moving forward e-commerce will be a disruptive force....A large part of consumption will move towards e-commerce," Arvind Ltd Executive Director Kulin S Lalbhai told reporters here.
He said, "As a company whose vision is to be India's largest brands and retail company in apparel space, we feel e-commerce should be central to our strategy and central to our vision."
Introducing its online arm Arvind Internet Limited (AIL), Lalbhai said it had been structured as a separate company within Arvind. It will have its own talent pool and its own culture and it has been structured in such a way that it can create an "entrepreneurial environment required..."
He said AIL 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. "
He also said Arvind does not see e-commerce as a channel for its brand adding that "we see e-commence as a business, and any business requires different kinds of talent,different kinds of structure and different kinds of culture in order to thrive; we will ensure all of this is in place.
