| Arvind Brands, which is marketing the ‘Arrow’ brand of apparels and accessories, expects more business from foreign operations as the company plans to expand Arrow’s retail network.
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| Arrow brand apparel products and accessories are now available in a few outlets in United Arab Emirates, Nepal and Sri Lanka. Now, the brand will have exclusive outlets in Bahrain, Kuwait, Oman and South Africa.
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| At present, the foreign operations account for 7 per cent of Arrow’s business. With the company expanding abroad rapidly, it expects the business to rise next year.
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| “We are tying up with some of the leading retail chains in West Asian countries. Similarly, we are partnering a leading departmental store in South Africa to retail Arrow,” Arvind Brands CEO (Brands & Retail) Suresh J said.
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| He pointed out that the retail market was witnessing a boom in West Asian countries and South Africa. “We are seeing good growth for Arrow. We expect the growth momentum to continue in the years to come,” he pointed out.
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| Arrow’s retail network in India is also being expanded. It is available in 45 outlets across the country. “We intend to increase the number of Arrow stores to 70 in the coming months. The stores will be spread evenly across the country with focus on metropolitan cities,” Suresh said.
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| It plans to increase the large format Arrow stores in the metropolitan cities. Arrow products are also available through Arvind Brands’ retail arm Megamart which is expanding rapidly into secondary and tertiary cities in South India.
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| Last fiscal, Arrow brand alone registered a turnover of Rs 97 crore.
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| This fiscal, it expects the turnover to be around Rs 120 crore. The brand is expecting significant growth in turnover in 2008 when the retail network would be stronger.
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| “We have also lined up the launch of new product ranges next season. We expect considerable growth next fiscal,” Suresh said. |
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