Textile business giant Arvind Ltd has announced its expansion strategy to strengthen its direct connection with the customers in the retail world.
Tracking the growth rate of 70 per cent y-o-y in its retail business in the last two fiscals, the company anticipates to reach Rs 800 cr mark by FY 2013-14.
"The fabric retail market in India constitutes almost 65 per cent of the total domestic apparel market, of which almost 80-90 per cent is traditional. In the last few years, the modern fabric retail market has witnessed a steady growth. The company plans to meet the demand of the branded fabric.
To boost the revenue, the company is planning to lay emphasis on product innovation and retail network. The company plans to spread to tier II and III cities and town by increasing the sale of cutpieces instead of fabric rolls thereby reducing the SKU to target smaller markets.
As part of its aggressive expansion strategy, the company has also planned to roll out its exclusive stores offering shirting, suiting and the denim fabric range, as well as its in-house brands such as Flying Machine, US Polo and Arrow.
Arvind Limited is expected to register a turnover of Rs 400 crore from its fabric retail business in the current fiscal.