Arrow quadruple its business in India by 2023
Arrow, men’s formal wear brand owns by PVH Corp, formerly known as the Phillips-Van Heusen Corporation, is an American clothing company intends to quadruple business in the next four to five years.
The brand is planning to open 55 exclusive brand outlets (EBOs) and 250 shop-in-shops this fiscal to expand its operations in tier II and tier III cities across India. Arrow is targeting over 20 percent year-on-year sales growth in the coming years.
At present, there are over 250 Arrow EBOs and 1,000 shop-in-shops in multi-brands outlets in India.
Sumit Dhingra, CEO of heritage brands division of Arvind Lifestyle Brands, that handles Arrow in India said, “As the way people dress up for work is changing, three sub-brands within Arrow will meet that need soon.” By 2023, the brand’s online sales will contribute upto 20 percent of Arrow’s sales as Online sales are the fastest growing sales channel in the world, he feels.
At present, online sales contribute 11 per cent of Arrow’s overall sales. It is growing by 60 per cent year-on-year basis.
– Apparel and Textile News, Apparel Talk, Indian Apparel