Textile major Arvind Ltd is eyeing Rs 1,400-1,500 crore in revenue from its retail business by next financial year, a top company official said on Friday.
Textile major Arvind Ltd is eyeing Rs 1,400-1,500 crore in revenue from its retail business by next financial year, a top company official said on Friday. "We are looking at a turnover of Rs 1,400-1,500 crore by March 2014 from retail activity," Arvind Ltd, head-retail (EBO), PS Rajiv said.
"The retail business of Arvind Ltd comprises retail stores under the name Arvind Stores and fabric business, which currently generates revenue of around Rs 680 crore," he said.
The company also owned several other retail stores and brands through its subsidiary Arvind Lifestyle Brands Ltd. "Currently, we have 73 Arvind Stores which would go up to 100 by March and by next year it will increase to 240," Rajiv said. "These retail stores will generate revenue of Rs 400-500 crore by FY14 and rest would come from the fabric segment," he said.
"Nearly 80 percent of our stores are located in tier-II and -III cities as the business model fits better in these cities and around 95 percent of the stores are already profitable," Rajiv said. "The company is a manufacturer and retailer of premium denim and cotton fabric, where 60 percent of the revenue from the fabric business comes from export and going foward the share is expected to be 50:50," he said.