Apparel giant Arvind Fashions has been focusing on driving profitability and is confident that it can become debt free in the coming two years while continuing to expand its brick-and-mortar stores and product selection.
“We embarked on a full-blown strategy two to three years back to create large iconic brands where we will get operational efficiencies and profitability by scaling them up,” said Arvind Fashions’ vice chairman Kulin Lalbhai, ET Bureau reported. “After the portfolio restructuring, the business is generating high return on capital employed, highly profitable and generating cash flow. If we achieve our business plan, the company will be debt free in two years.”
Arvind Fashions plans to increase the size of its stores for its various brands by an average of 25%, the business’ chief executive officer Shailesh Chaturvedi told the Economic Times. By doing this, the business will be able to diversify the product selection available in its retail outlets to offer shoppers a wider choice of goods.
The business plans to pilot a new large-scale retail format where shoppers will be able to browse multiple Arvind brands at one location. Products which will be available at these stores would include footwear, inner wear, children’s wear, and accessories among others. The brands Arvind Fashions retails in India include Flying Machine, Calvin Klein, and Tommy Hilfiger among others.
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