6476

Arvind to sell Hanes and Wonderbra in India

Firm expects the Hanes businesses to reach Rs500 crore in sales over the next four years
Comment E-mail Print Share
First Published: Mon, Feb 11 2013. 04 05 PM IST
Sanjay Lalbhai, chairman, Arvind Ltd. Photo: Mint
Sanjay Lalbhai, chairman, Arvind Ltd. Photo: Mint
Also Read

Bangalore: Clothing retailer Arvind Lifestyle Brands, a unit of Arvind Ltd, said it struck a deal with US-listed Hanesbrands Inc. to sell innerwear brands Hanes and Wonderbra in India.
“This transaction is a significant milestone as it signals our entry into the highly lucrative of branded apparel essentials with lingerie and undergarments,” managing director Sanjay Lalbhai said in a statement.
The companies did not disclose terms of the deal.
The deal marks the entry of Arvind Lifestyle, which owns brands such as Flying Machine and the retail chain Megamart, in the innerwear market. According to the company’s estimates, the Indian innerwear market is valued at Rs18,000 crore.
The company expects the Hanes businesses to reach Rs500 crore in sales over the next four years, Arvind Lifestyle managing chief executive J. Suresh said. He said the company will increase the points of sale for Hanes to 15,000 from 5,000 in three years.
Shares of Arvind rose 2% to Rs91.05 at 1pm on Monday on BSE.
Comment E-mail Print Share
First Published: Mon, Feb 11 2013. 04 05 PM IST
blog comments powered by Disqus
  • Wed, Aug 20 2014. 07 26 PM
  • Wed, Aug 13 2014. 06 09 PM
Subscribe |  Contact Us  |  mint Code  |  Privacy policy  |  Terms of Use  |  Advertising  |  Mint Apps  |  About HT Media  |  Jobs
Contact Us
Copyright © 2014 HT Media All Rights Reserved