Mumbai: Upbeat on the increasing demand for super premium brands in the country, textile and retail major Arvind Mills is eyeing a Rs2,500 crore revenue from lifestyle division Arvind Lifestyle by FY’15, a top company official said.
Arvind Lifestyle, a wholly owned subsidiary of the Rs4,000 crore Arvind Group, owns and operates retail chains like Megamart and Club America.
“The people’s aspirations have changed. They have become more fashion-conscious and want to have global brands as they have a kind of recognition. We have launched several international brands and are planning to get a few more soon. We hope our lifestyle division grows to be a Rs2,500 crore business by 2015,” Arvind Mills managing director Sanjay Lalbhai told PTI in Mumbai on Sunday.
Arvind Lifestyle currently contributes around Rs1,200 crore to the company’s total turnover. Of this, private brands contribute around 55% and international brands about 45% Its turnover is growing at 50-60% y-o-y.
The company has 12 private brands in its portfolio, including Newport, Ruff and Tuff and Lee, among others. Besides, it has launched international brands like Flying Machine, US Polo, Arrow, Gant and Izod in the country, with the latest being iconic premium men’s jeanswear label Energie.
Energie is a brand from international designer firm Sixty Spa and currently has 4 exclusive stores in India and 20 ‘shop in shops´ in a partnership with Arvind.
“We want to open another 5 stores and 20 shop-in shops this year and expect around $20 million revenues from the Energie brand alone over the next two years,” Lalbhai said, adding that the company will invest around Rs5-6-crore in advertising and marketing of the brand.
Arvind Mills, which is known to for men’s brands and apparel, is also getting into women’s premium fashion wear with Elle, Lalbhai added.
The apparel maker will soon sign a licencing agreement with French women’s brand Elle for clothing and fashion accessories. Media conglomerate Lagardere SCA owns Elle, the world’s largest fashion magazine.