Arvind Lifestyle Brands bags licence to acquire business operations of Debenhams, Next, Nautica

MUMBAI: Arvind Lifestyle Brands, subsidiary of Arvind Ltd, on Thursday said it has acquired the business operations of British fashion retailers Debenhams and Next and American lifestyle brand Nautica in India from Plant Retail. These acquisitions will enable the company to achieve sales of Rs. 5000 crores over the next five years, CMD of Arvind Ltd Sanjay Lalbhai said.

The move signals the group's entry into the Department Store Segment and the globally fast growing apparel specialty retail segment. American Sportswear Lifestyle Brand Nautica makes us the dominant player in the sportswear segment. "We have a strong menswear portfolio, which will get further strengthened with Nautica. Debenhams and Next will substantially strengthen our position in womenswear and kidswear segment. We plan to achieve Rs. 500 crore revenue over next five years from current Rs 70 crore by investing Rs.150 crore into these three brands," added J. Suresh, MD and CEO, Arvind Lifestyle Brands Ltd.

Acquisition of Debenhams signals the entry of Arvind into the Bridge to Luxury Department Store segment. Arvind plans to increase the current number of Debenhams stores in India from 2 to 8 in the next 3 years. Arvind will enter into the fast growing segment of apparel specialty retail through Next and increase the headcount of Next stores from 3 to 12 in the next 3 years.

The licensing arrangement with Nautica will strengthen Arvind's already strong position in high potential sportswear segment of the market. The company plans to set up additional 30 Nautica stores taking the tally to 41 free standing Nautica stores and 71 shop in shops in the next 3 years.