Arvind Ltd is looking at launching its fashion brand Flying Machine and French brand Elle in Afican countries and Middle East, said a senior executive of the company.
"We are looking to launch Flying Machine in Africa and Middle East and exploring whether we can launch Elle in these markets though we have not finalised plans," said Suresh J, managing director and chief executive, Arvind Lifestyle Brands at a event in Mumbai today.
While Flying Machine is owned by Arvind, the company has licence agreement with Elle.
The success of its apparel brand Arrow has given it the confidence to launch more brands from its stable. The company has launched Arrow in Zimbabwe, South Africa in department stores such as Strata 4, Craig and other exclusive brand outlets.
In the Middle East, it sells in countries such as UAE, Kuwait and Jordan among others.
Overall 5% of Arvind's overall sales, which is Rs 1,200 crore, comes from Arrow's sales in Africa and Middle East.
Arvind is also in talks with international brands in kidswear, womenswear and youth segments, which will come through licencing agreements with the former, Suresh said.
Meanwhile, the company will look into opportunities in multi-brand retail.
"We have not looked at FDI in multi-brand retailing. Our current plans are as per the policy. We will look into opportunities now as FDI has opened in multi-brand retailing," said Sanjay Lalbhai, chairman and managing director of Arvind Ltd.
Today, it announced that it has acquired business operations of Nautica, Debenhams and Next from Planet Retail for Rs 70 crore.
The company's stock ended the day at Rs 78.65, up 0.32% from Wednesday's close.
