Arvind Lifestyle Brands, a subsidiary of Arvind Ltd, said it is on track to become a ₹5,000-crore brand armed with high street fashion labels.
Though the company admitted that it is in talks with American fashion brand Gap to bring the brand to India, it said a deal was yet to be sealed.
“We are working with them and looking to bring the brand to India. However, as yet nothing is conclusive,” J Suresh, Managing Director & CEO, Arvind Brands, told
Real estate sources, however, indicated that Arvind was scouting for locations in Mumbai and Delhi to start branded outlets in India.
Gap owns brands such as Gap, Old Navy, Banana Republic, Piperlime and Athleta. Reports indicate that the company currently sources about $500 million worth of products from India each year.
Suresh said the company was on track to become a ₹5,000-crore brand by 2018. “We expect ₹3,000 crore to come from growing the business organically, while the rest would come through acquisitions, new brands and joint ventures,” he said.
Suresh added that the company is largely concentrating on menwear, kidswear and innerwear. “We are concentrating on intimate apparel brands, with Hanes and Calvin Klein in our portfolio.”
The Arvind Lifestyle Brand has licencing relationships with many international brands, including Gant, Nautica, Arrow, US Polo Association, Izod, Elle, Cherokee, Mossimo and Geoffrey Beene. Arvind also has a portfolio of 12 of its own brands. It also runs the country’s largest value retail chain Megamart and the UK-based department store chain Debenhams, and the apparel specialty retail chain Next. Arvind has over 1.3 million square feet of retail space across various brands.