Reuters
Mumbai: Arvind Ltd’s retail chain Megamart has entered into a licensing pact with US-based Cherokee Inc, Megamart’s chief operating officer said on Thursday.
Megamart is expected to contribute about Rs3 billion in sales, or roughly 15% of Arvind’s total turnover, in 2008-09, K.E.Venkatachalapathy said.
Megamart currently has 110 stores across India, which the company plans to raise to 250 by 2010, he added.