Arvind plans to invest 250 crore for expansion

An average of 25 Megamart stores a year would be set up by Arvind Brands, a division of Arvind Limited. The company would spend about Rs 250 crore over three years for expansion of outlets and brands. This is part of the Rs 400-crore outlay it prepared two years ago. Arvind Brands plans to launch the IZOD brand in the premium segment in February next year to cater to clothing needs of sport, primarily golf. Arvind recently launched US Polo and Gant brands and repositioned Flying Machine in the denim segment, apart strengthening the suit segment in Arrow. Arrow, on an experiment basis, launched women's collection in 20 of its 70 retail stores a fortnight ago to cater to new audience. With this, Arrow expects women’s wear would contribute about 15 per cent of the revenues in three years. Arrow’s annual business last year stood at Rs 230 crore.