Textile firm Arvind today said it has entered into a franchise agreement with US-based Kid's speciality apparel retailer The Children's Place.
Arvind Lifestyle Brands Ltd, its subsidiary is expected to open 50 stores over time beginning in the fall of 2015, the Ahmedabad based firm said in a statement.
Commenting on the development Arvind Ltd CMD Sanjay Lalbhai said:" The Children's Place will be the first of its kind Children's retail format in India. It will be a one stop for children from infants to 14 years olds".
The Children's Place President and CEO Jane Elfers said:" We are excited to be partnering with Arvind, which has a proven track record of operating successful apparel brands in India. We are making significant strides in our international franchise business and we remain focused on providing great fashion and value for the kids around the world."
"Indian kidswear market has a huge opportunity and we are confident of gaining dominant share of the Indian kidswear," said Arvind Lifestyle Brands MD & CEO J Suresh.
The Children's Place is the largest kids's specialty apparel retailer in North America. It designs, sells and licences under the brands - The Children's Place, Place and Baby Place.
