The deal comes about a month after Shiprocket acquired a majority stake in logistics firm Pickrr for USD 200 million in a mix of equity and cash transaction.
The Executive Director says demerger part of the strategy to push group revenues to Rs 20,000 crore in 4-5 years.
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.
Arvind expects to double its revenues by 2020 to become a USD 1 billion (around Rs 6,700 crore) company.
Discount-based models deployed by several etailers aren't sustainable in the medium term. Over time business models will strive to compete on consumer experience rather than discounts, says Kulin S Lalbhai, Executive Director of Arvind Limited.
Under this online portal, one can create garments on a 3D visualisation engine, which would then be made by the company for the same person.
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.