Arvind Brands is stitching plans to hike prices of its entire product offering by 10-15 per cent, by next year, to offset spiraling raw material costs.
J Suresh, CEO, Arvind Brands & Retail, said that with prices of cotton increasing, the company is facing pressure as the cost of manufacturing garments is going up. To offset this, the brand is looking to hike the prices of its products.
He said at present, a consumer can buy a shirt from the Arvind Brands stable for between Rs 4,500 and Rs 6000, T-shirts starting from Rs 3,500 and denims ranging up to Rs 6,000. All these prices will undergo changes from next year.
The firm retails Arrow, Excalibur, Flying Machine, Ruf & Tuf and Newport as well as international brands such as IZOD, Gant and Polo in India. In addition, it’s JV with VF Corporation includes a portfolio of international brands like Lee, Wrangler, Nautica, Kipling, Hero by Wrangler & Lee Riders and Tommy Hilfiger. Arvind Brands is also bringing Italian menswear label Energie to India by September t by 10-15 per cent his year.