Hyderabad: Textile manufacturer Arvind Ltd. will open 120 retail format stores in five states across the country this fiscal. Some of these stores would be company-owned and the rest, franchisees. The company currently has 13 such outlets, branded “Arvind stores”, and will expand to towns in states such as Gujarat, Rajasthan, Maharashtra, West Bengal and Andhra Pradesh, according to Kulin S Lalbhai, chief manager (retail), Arvind Ltd.
Each store would entail an investment of Rs.50-70 lakh, and sell Arvind’s apparel brands as well as custom-made fabric and denim solutions. “By innovating on the retail platform, we are able to reach smaller parts of India along with the urban platforms,” said Lalbhai. Further, the company, Lalbhai said, will expand all over the country, taking the number of Arvind Stores to 250 by 2012-13. It has set a target of Rs.400 crore from this segment by the end of financial year 2013.