Arvind Ltd to set up 240 shops, eyeing Rs 400 crore through this biz
Ahmedabad-based vertically integrated textiles player Arvind Ltd is eyeing a business of Rs 400 crore through this business.
While an impending slowdown may panic the consumer in the metors and tier 1 cities and keep them from splurging on apparel, the “insulated” consumers in the tier 3 and tier 4 markets would be a growth driver for Arvind, P.S. Rajiv, head-retail (EBOs), Arvind Ltd told ET. The company opened its 28th EBO in Anand, 60 km from Ahmedabad, on Friday. “We would close this fiscal at 60 stores and would add 90-100 stores every year to take it to 240 by 2013-14,” he said.
Arvind has launched its EBOs in three formats -- flagship stores in 2,500 sq feet, experience stores that are less than 2,500 sq feet but enable a consumer to experience brand Arvind and exclusive stores that are less than 900 sq feet. “Experience stores that would be set up in tier 2, 3, and 4 cities and towns of India would be the bread and butter for the business. With pent up demand for branded apparel in those markets, we see growth happening in those markets,” he added.
Arvind offers fabric brands like Tresca & Hatric, apart from US Polo Association, Flying Machine, Arrow, Izod, et al. Arvind Denim Labs (ADL), a concept exclusive to the Arvind store, offers 15 patterns that could be customised to a consumer’s choice. Arvind expects ADL to contribute 5% to its business.