Arvind seeks 10-12% growth from textile biz in FY16

Seeing good days ahead, Arvind hopes to get 10-12% growth in the textile business in FY16. This expectation is driven by growth in denim (4%), woven (10%) and garments (35%). The management of Arvind is expecting to double revenues and margins in the brands and retail business over the next three years, states a Motilal Oswal report.

Arvind is also looking forward to come up with six more GAP stores by the end of FY16 and 15 stores by the end of FY17. ‘The Children’s Place’ launch is likely by Q3FY16. Arvind will also launch its e-commerce portal by November 2015. It will have its entire brand portfolio as well as private labels. The management is eyeing exclusive international brand tie-ups for e-commerce, adds the report.

Arvind Lifestyle Brands Ltd is a subsidiary of Arvind Ltd, a group associated with textile business in India. It produces denim fabrics and supplies them to a large number of fashion brands across the world. Arvind has brought various international brands to India. It brought Arrow to India in 1993. It has licensing relationships with Arrow, Gant, Nautica, US Polo Association, Ed Hardy, Elle, Hanes, Cherokee, Mossimo and Geoffrey Beene. Arvind has a portfolio of 12 of its own brands.