The homegrown textile major Arvind is planning rise in-house production by 40 percent from 10 percent at present to increase its textile business to Rs 10,000 crore in the next five years.
Aamir Akhtar, chief executive, Denims, Arvind said, "Presently, about 10 percent of our fabrics are made into garments internally. We are targeting to grow this to 40 percent of our production”
For this, the company is adding capacity of 1 million meters annually, and expects 1 million garments to be produced internally per month over the next few years, he added.
Akhtar highlighted that Arvind's denim business has about 40 percent market share in the organised denim market at present, registering an 8-10 percent annual growth. "The company is looking to increase it to 15 per cent," he said.
The apparel major had earlier claimed to increase the turnover from its textiles business to Rs 10,000 crore in four to five years, from Rs 6,000 crore at present.
"The company is also looking to expand its capacities in existing units and set up new ones in the next few years," said Akhtar.
Arvind intends to list its branded apparels business, Arvind Fashions, as a separate entity by demerging its branded apparel and engineering businesses.
