Arvind plans Rs 400-cr retail spend
Arvind Mills, one of India’s leading textile manufacturers and owner of brands like Flying Machine and Newport, will be investing close to Rs 400 crore in expanding its retail presence.
By TNN |
MUMBAI: Arvind Mills, one of India���s leading textile manufacturers and owner of brands like Flying Machine and Newport, will be investing close to Rs 400 crore in expanding its retail presence. The company will focus on enhancing its own brands as well as growing its global licenced brands by increasing its presence across customer segments and categories.
Arvind Mills expects a 40% CAGR in the brands business driven by revenues from its new brands US Polo, Izod and Hartmarx group of brands, along with a 40% growth in its joint venture. ���The new business environment presents new opportunities. We have looked at each business individually and adopted a strategy that best suits them respectively,��� said Arvind Mills CMD Sanjay Lalbhai.
The company will focus on debt reduction by using cash flows of its fabric business, capital infusion of Rs 188 crore from promoters and through unlocking of value in its non-strategic assets. The company owns three land parcels in Ahmedabad, all of which are currently being evaluated by Ernst & Young.
Arvind Mills expects a 40% CAGR in the brands business driven by revenues from its new brands US Polo, Izod and Hartmarx group of brands, along with a 40% growth in its joint venture. ���The new business environment presents new opportunities. We have looked at each business individually and adopted a strategy that best suits them respectively,��� said Arvind Mills CMD Sanjay Lalbhai.
The company will focus on debt reduction by using cash flows of its fabric business, capital infusion of Rs 188 crore from promoters and through unlocking of value in its non-strategic assets. The company owns three land parcels in Ahmedabad, all of which are currently being evaluated by Ernst & Young.
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