Arvind Brands to open 25 Calvin Klein innerwear stores in 3yrs

Arvind Brands will open 25 Calvin Klein standalone innerwear outlets in three years as it sees the category growing by 25-30% annually.

Arvind Brands, which bagged rights to market Calvin Klein products in India in March last year, will also launch Calvin Klein's formal and casual wear by mid-2016.

"We plan to open 20-25 standalone Calvin Klein underwear outlets in three years. Underwear category in India is pegged at $1.2 billion and we expect the segment to grow by 25-30% for the next few years," Arvind Lifestyle Brands Managing Director J Suresh told PTI.

The company officially launched Calvin Klein's first innerwear outlet in Delhi last week.

Suresh said Arvind Brands is targeting Rs 175 crore turnover this year from innerwear portfolio from all its brands put together.

"Apart from Calvin Klein, we also market innerwear of US Polo and US-based Hanes," he added.

Elaborating on new launches, Suresh said: "We also plan to launch Calvin Klein's formal and casual wear portfolio in India by mid-2016."

Phillips-Van Heusen Corporation (PVH Corp), which owns Calvin Klein, has been running a 51:49 joint venture -- Premium Garments Wholesale Trading -- in the country. Arvind Brands bought out Murjani family's 49% stake in the JV in March last year.