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Arvind Ltd, is looking to expand the presence of its ‘The Arvind Store’ to 165, from the existing 142, by the end of this fiscal.
The Arvind Store offers mid to premium range shirting and suiting fabrics apart from three of its fast-moving brands — Arrow, US Polo Association and Flying Machine.
Franchise modelExpansion, mostly through the franchise model, will have specific focus on Tier-II, III, IV, V cities and towns.
According to PS Rajiv, CEO, The Arvind Store Division, the idea is to cater to the huge untapped opportunities that are there in these non-metros.
“Going forward, we will have a 80-20 mix, ie, 80 per cent of The Arvind Stores will be located in non-metro areas; while the remaining 20 per cent will be in metros,” he told reporters.
Rajiv was in the city for the launch of its first flagship store here.
The flagship store will have premium offerings.
While, regular stores are approximately 1500 sq ft in size; flagships are around 4,000 sq ft.
Currently, approximately 55 per cent of the demand in The Arvind Stores is for fabric; while the remaining is for branded apparels.
Demand for fabric, or, tailored clothes have seen a rise especially during ceremonial occasions.
Annually, there is a 5 per cent rise in demand for bespoke (made-to-order) garments.
According to Rajiv, the company is targeting a turnover of approximately ₹600 crore with a store count of 500 by 2020.
It is hopeful of closing this fiscal at around ₹150 crore.
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