In a panel discussion on CNBC-TV18, representatives from India Inc listed their views and concerns on the likely impact the new tax regime brings on their business and industry.
J Suresh, Managing Director and CEO of Arvind Lifestyle Brands, is of the view that FY17 will see expansion of existing brands and revenues from Sephora will be at Rs 150 crore
In a chat with CNBC-TV18's Priya Sheth, Arvind Lifestyle MD and CEO, J Suresh said the company was aiming to become a Rs 5000 crore entity by 2018.
Arvind Lifestyle, a division of Arvind has entered into a licensing agreement with US-based specialty garments retailer Aeoropostale. The agreement allows Arvind Lifestyle to manufacture garments with the Aeoropostale brand in India.
The subsidiary of Arvind is expected to open 50 stores of this brand from the beginning of 2015. The US company, at the end of August 2 (2014), operated 1,113 stores in the United States, Canada and Puerto Rico.
Arvind Lifestyle Brands, a unit of textile firm Arvind Ltd, expects sales of Rs 5,000 crore in the next 5 years, helped by strong growth in the existing business and acquisition of new brands.