Geoffrey Beene, one of America’s largest-selling designer shirt brands will partner with Arvind Ltd’s discount apparel chain Megamart. The licensing agreement comes less than six months after Megamart signed up with Nasdaq-listed Iconix Brand Group’s youth brand Mossimo.
The maker of Arrow, US Polo and Energie lifestyle brands in India, operates around 200 Megamart outlets. It will expand this to 250 brands this fiscal. "We wanted to bring in a new set of customers who are keen on aspirational brands. At the same time, it will help us increase loyalty within the existing set to capture downtrading customers in an inflationary environment," J Suresh, MD and CEO of Arvind Lifestyle Brands Retail, said.
Geoffrey Beene was known to challenge prevailing trends with innovative styles. He did it again by trading profits for philanthropy. For Megamart, Geoffrey Beene will bring to its portfolio international menswear formals to blend in with American family brand Cherokee, which clocked sales of 70 crore last fiscal. Mossimo, which is targeting an August launch in India, will instead work on increasing Megamart’s franchise with the youth through apparel, fragrances and footwear.