Textile stocks like Arvind are in focus after Reserve Bank of India (RBI) discontinued issuance of Letters of Undertaking (LoU) and Letters of Comfort for trade credit. As well, Arvind SmartSpaces, the realty arm of fashion and apparel firm Arvind, is looking to cross the Rs 1,000-crore revenue mark in the next four years. In an interview with CNBC-TV18, Kulin Lalbhai, Executive Director of Arvind spoke about the latest happenings in his company and sector.
Despite a tough market scenario Arvind Lifestyle Brands which houses brands like Gap, Sephora and US Polo Association expects to hit revenues of Rs 5,000 crore by 2020.
Arvind's Q3 earnings were absolutely in-line as margins met expectations while the branded apparel business stands out with improvement in profitability and jump in EBIT.
We have already announced the demerger, it has been approved by the board. It would take 7-8 months for the three businesses to list, Kulin Lalbhai, Executive Director of Arvind said.
Demerger helps the specific companies to align their own objectives and also help them raise resources independently, said Sanjay Lalbhai, CMD, Arvind.
ICRA report says that the apparel and fabric industry's profitability is under pressure amid several headwinds. In an interview to CNBC-TV18, Kulin Lalbhai, Executive Director of Arvind spoke about the latest happenings in his company and sector as well as gives a check of the ground realities.
Arvind's Q1 earnings were largely in-line with estimates as inventory clearance leads to a revenue beat. Margins however decline as raw material costs rise 24 percent.
In an interview with CNBC-TV18's Priya Sheth, J Suresh, CEO and MD of Arvind Brands discussed the plans going forward.
In an interview with CNBC-TV18 Kulin Lalbhai, ED of Arvind said that the drop in EBITDA was on the back of trade channels that had liquidity crisis.
Confident about brand & retail (B&R) business; December sales have surprised us, says Sanjay Lalbhai, CMD of Arvind.
Renuka Ramnath of Multiples Equity said that the deal with Arvind is a very interesting mix of brick to luxury and the company has a unique combination of owned, licensed and specialty brands.
Speaking to CNBC-TV18, Sanjay Lalbhai, CMD of Arvind said that the company has few cash-generating businesses, which can be unlocked for value to shareholders. These can either be given to existing shareholders or crystalised or couild be put under separate boards.
All the retail formats (Aeropostale, Sephora, GAP etc) are going as per plans. At the store level, profitability is good, like-to-like growth is healthy too, said Sanjay Lalbhai, CMD, Arvind.
A fire has broken out at a voiles unit of Arvind Ltd, Chairman and Managing Director Sanjay Lalbhai told CNBC-TV18.
The company has added eight stores for brands like GAP and Sephora and one for Aerospatale in the current year, which will become profitable in next financial year.
Arvind Textiles has tied up with cosmetics and beauty retailer Sephora to run their operations in India.
More and more companies are feeling the need to have a significant online presence. Case in point are Arvind Limited and Archies. Experts discuss what is luring businesses to this platform.
See no margin impact on arvind from this new venture in the first year, executive director Kulin S Lalbhai said.
Speaking to CNBC-TV18‘s Latha Venkatesh and Sonia Shenoy, Sanjay Lalbhai, chairman and managing director, Arvind Mills says that the company will maintain its 20 percent growth and outperform its volume guidance of 14 percent.
Garment manufacturer Arvind has revised its FY14 revenue guidance from 20 percent to 24 percent. The company is expecting the H1FY14 sales growth at 29.3 percent.
According to Arvind's Sanjay Lalbhai, the huge growth in textile and clothing is responsible for improvement in the margins of the company for the quarter ended September.
Speaking to CNBC-TV18, Sanjay Lalbhai, chairman and managing director, Arvind, says the challenging situations in Bangladesh in the form of labour unrest, wage increases, compliance, etc too poses a great oppturtunity to Indian textile companies.
Arvind had taken some forward cover on the rupee and are hence yet to get the full benefit of rupee depreciation. They will be almost on par with the rupee rate in the third and the fourth quarter.
Arvind's fourth quarter consolidated net profit increased 13 percent to Rs 76 crore against Rs 67 crore, a year ago. Its consolidated total income was up 10 percent at Rs 1,406 crore as against Rs 1,278 crore, year-on-year.