Kulin Lalbhai, ED - New Initiatives at Arvind says a core part of the strategy will be a rapid rollout of 'The Arvind Store' retail format, which will be expanded to 400 outlets in next five years from 100 now.
Textile firm Arvind Ltd is giving a push to its retail stores under the Arvind brand and is also rolling out premium fabrics to cash in on the growing demand for lifestyle and branded apparels.
It hopes the fabric brand Arvind will grow four-fold to touch Rs 2,000 crore in revenue by 2017-18 from Rs 500 crore now.
Kulin Lalbhai, ED - New Initiatives, says, a core part of the strategy will be a rapid rollout of 'The Arvind Store' retail format, which will be expanded to 400 outlets in next five years from 100 now.
"The brand Arvind will play a critical role towards Arvind Ltd's vision of building a USD 1 billion brands and retail business. Our aim for the brand Arvind is to attain a leadership position in the fabric brands and retail market in India," Lalbhai said on Friday.
The Ahmedabad-based company opened 50 stores in FY13 and plans are to open 60 this year. Most of the stores are in West and South India and the expansion in other regions will in phases at a later stage, said, Shridhar Iyer, Head - Marketing (DTR).
The stores will offer fabrics, readymades and custom tailoring. While the company will own 1/3rd of the stores, rest will be franchisees, so the capital expenditure will be limited to around Rs 15 crore, Lalbhai said.
Arvind has also launched premium fabrics Tresca, where prices start at Rs 700 a metre.
While the company has only started marketing it this year, Tresca is being sold for a year now. According to Lalbhai, it accounts for 30-40 percent of sales in Arvind stores.
Even as the company focuses on the Arvind brand, it will continue to tap foreign brands for tieups. Its currently retails brands like Arrow, Izod, US Polo, Cherokee, Nautica, among others, through its Bangalore-based arm Arvind Lifestyle.