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INDIA: Arvind aims for Rs 4,000-cr turnover
Textile major Arvind Ltd is targeting a Rs 4,000-crore turnover this financial year, driven by B-to-C (business to customer) retail business in the domestic market, a top executive said.
The company reported a turnover of Rs 3,200 crore last year. In the current fiscal, it is aiming a turnover of Rs 4,000 crore, including Rs 100-crore income from real estate, said Sanjay Lalbhai chairman and managing director Arvind.
The Ahmedabad-based Group expects Rs 850-crore income from its various real estate projects in Gujarat over the next three years, he said.
Lalbhai, who announced the launch of first retail outlet here, Arvind Store, said growth will also come from brands and retails.
"With the export market we have the risk of running into forex losses. We give high importance to the domestic growth in both retail and branded segment. It will cover the risk of running exchange risk as we have the pricing advantage in the retail market," he later told media persons.
Lalbhai said they intend to open 20 Arvind Stores in Andhra Pradesh alone and around 100 all over India in the next two years. "We hope to get Rs 200 crore revenues from Arvind Stores over the next three years."
Lalbhai said they have a large land bank in Ahmadabad and expect Rs 100 crore income this year from that and around Rs 250 crore next year and Rs 500 crore in 2012-13.
Since inception in 1931, Arvind has continuously brought product innovation to India. Over seven decades Arvind has been defining and shaping many a collection and trendsetting styles across the ramps and retail outlets of the fashion capitals of the world. Whether it was traditional wear in the 1950s or denim in the 1980s, Arvind has always dominated its product categories through innovative, value-added products.
Over the last 10 years, it has built market leadership in the fabric market with over 20 million meters produced annually and being sold in over 6,000 retail outlets across the country. Arvind is today synonymous with a vast range of lifestyles products - be it fabrics or apparels.
The Arvind Mills was set up with the pioneering effort of the Lalbhai brothers in 1931. With the best of technology and business acumen, Arvind has become a true Indian multinational, having chosen to invest strategically, where demand has been high and quality required has been superlative. Today, The Arvind Mills Limited is the flagship company of Rs.20 billion (US$ 500 million) Lalbhai Group.
Arvind Mills has set the pace for changing global customer demands for textiles and has focused its attention on select core products. Such a focus has enabled the company to play a dominant role in the global textile arena. With its presence across the textile value chain, the company endeavors to be a one-stop shop for leading garment brands.
Added: August 18, 2010 (1586 days ago) Source: Agencies
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