Upbeat on the increasing demand for super premium brands in the country, textile and retail major Arvind Mills is eyeing a R2,500-crore revenue from lifestyle division Arvind Lifestyle by FY'15, a top company official said.
Arvind Lifestyle, a wholly owned subsidiary of the R4,000-crore Arvind Group, owns and operates retail chains like Megamart and Club America. “The people’s aspirations have changed. They have become more fashion-conscious and want to have global brands as they have a kind of recognition. We have launched several international brands and are planning to get a few more soon. We hope our lifestyle division grows to be a R2,500-crore business by 2015,” Arvind Mills managing director Sanjay Lalbhai said on Sunday.
Arvind Lifestyle currently contributes around R1,200 crore to the company’s total turnover. Of this, private brands contribute around 55% and international brands about 45%. Its turnover is growing at 50-60% y-o-y. The company has 12 private brands in its portfolio, including Newport, Ruff and Tuff and Lee, among others. Besides, it has launched international brands like Flying Machine, US Polo, Arrow, Gant and Izod in the country.