Apparel retailer Arvind Ltd will be adding two new foreign brands to its portfolio of four brands – Arrow, US Polo, Flying Machine and Izod – this fiscal.

Mr Kulin Sanjay Lalbhai, Arvind's Chief Manager (Retail), was not willing to disclose the names of the brands, but said they would be in the youth-wear segment, which has been growing at a faster clip in the domestic readymade garment market.

“We will be introducing the two new foreign brands through the usual licensing route,” he told mediapersons after inaugurating the first company-owned flagship outlet, Arvind Store, here on Friday.

With 13 outlets currently operational under the Arvind Store format, the retailer plans to open 120 such stores, including about 50 franchises, this fiscal. “We plan to have 250 such stores, including those in tier II and III cities by 2012-13, as part of out strategy to double our fabric retail revenues to Rs 800 crore by that time,” he said. The stores not only retail Arvind's premium brands, but have Arvind Denim Labs, a denim concept offering customised washed and tailored denim. “With plans to open 100 stores each year, this format is expected to notch up revenues of Rs 400 crore by 2012-13,” he said. The company is also exploring opportunities to take the Arvind Store format overseas.

“The concept can have potential markets in West Asia and South African regions,” Mr Lalbhai said.

Arvind expects its retail and readymade brand businesses together to achieve a turnover of Rs 1,200 crore this fiscal, up from Rs 820 crore last fiscal.

Replying to a question, he said branded garment players had hiked prices by 20-25 per cent due to the rise in cotton prices.

“Most of it (the price hike) is over. So I do not think there will be any major revisions immediately,” he said.

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