Arvind Brands To Set Up Lifestyle Retail Stores
The textiles biggie Arvind Brands has recently come up with a blueprint to open up a chain of lifestyle retail stores. Arvind Brands is a retail division of Arvind Mills and is planning to venture into the spectrum of value retail, luxury and premium retail. When this plan takes off, Arvind Brands is likely to be counted as a separate entity. However, no further information regarding the transfer the company’s division is available.
Right now, Arvind Brand manages different brand names like Newport, Flying Machine, Excalibur and Ruf & Tuf along with international brands like Arrow, Lee, Wrangler, etc. the initial investment in the first phase will be around Rs. 400 crore. Under the new plan, the lifestyle formats shall now offer luggage, accessories and electronic gadgets along with garments. According to sources, the company has signed up prime properties in Chennai, Hyderabad and Pune. Around 80 domestic brands shall be retailed in the country.
Arvind Brands has reportedly hired the famous JHP London, the designers of retail chains like Selfridges, ASDA, etc. in order to design their stores in India. Megamart, a value retail chain which stocks various brands is operated by Arvind Brands at the moment. The plan is to build retail stores bigger than Megamart as international brads will be sold here.