Arvind Lifestyle Brands Targets 70% Of Sales From Global Brands
Arvind Lifestyle Brands is eyeing up to 70 per cent of its total sales coming from the portfolio of international brands it retails in the next couple of years.
“Presently, international brands contribute around 60 per cent of our turnover and rest 40 per cent comes from our own brands. It (share of international brands) may go up to 70 per cent in two-three years,” Arvind Lifestyle Brands MD, J Suresh said.
The company has franchise agreement with 14 international brands, including Gap, Calvin Klein and Aeropostale, as well as 12 in-house brands.
Arvind Lifestyle Brands, a subsidiary of the country’s largest integrated textile and apparel company Arvind Ltd, will also invest up to Rs 200 crore every year for expansion of its retail network. It plans to add 300 more stores in the next two years, taking the count to around 1,350.
“We are adding around 150 stores every year. Currently, we have 1,050 stores and will add 300 more stores in two years,” he said.
As per its strategy, the company offers premium foreign brands for the aspirational class and domestic homegrown brands for the mass segment, Suresh added.