The announcement was made during market hours today, 12 December 2012.
Meanwhile, the BSE Sensex was down 10.07 points, or 0.05%, to 19,377.07
On BSE, 1.81 lakh shares were traded in the counter as against an average daily volume of 3.77 lakh shares in the past one quarter.
The stock hit a high of Rs 91.50 and a low of Rs 89.95 so far during the day. The stock had hit a 52-week high of Rs 107.15 on 13 February 2012 and a 52-week low of Rs 59.05 on 30 August 2012.
The stock had outperformed the market over the past one month till 11 December 2012, rising 7.99% compared with the Sensex's 3.77% rise. The scrip also outperformed the market in past one quarter, surging 32.11% as against Sensex's 8.59% rise.
The small-cap denim maker has an equity capital of Rs 258.04 crore. Face value per share is Rs 10.
In a press release, Arvind Lifestyle Brands, a subsidiary of Arvind, today, 12 December 2012 announced the signing of an exclusive distribution agreement with the iconic surf lifestyle brand Billabong in India. Arvind will market Billabong's products through open stand-alone stores, as well as shop in shops in Department Stores and leading Multibrand stores.
In turn, Billabong will leverage Arvind's significant expertise in building international brands in India to enhance its iconic status and presence in this important emerging market. All of which will help Arvind further augment its category leadership in the retail space through its truly robust multi-brand, multi-price and multi-channel strategy.
J Suresh, Managing Director & CEO of Arvind Brands and Retail said "We are delighted to sign the Distribution Agreement with Billabong, one of the world's largest surfwear brands with a turnover of 51.5 billion. Billabong is strongly focused on youth and is ideal for the Indian market which has the largest youth demographic in the world."
Phil Nicole, General Manager, Asia, Billabong said "Arvind has a network of 730 stores and 650 shops in shop counters and is one of the largest branded apparel companies in India.
The Group has a heritage of 80+ years and is also the largest denim manufacturing company in the world. Arvind has licensing relationships with a number of international partners and has grown many international brands into market leaders in India. We are therefore convinced that we have found in Arvind a great partner for Billabong as we seek to further grow our Asian operations."
The distribution arrangement with Billabong will significantly enhance Arvind's already strong position in the high potential youth Segment. Billabong is a celebrated and iconic global youth board sport and lifestyle brand, that will allow Arvind to cater to both men's and women in one of the fastest growing and exciting youth markets in the world.
Billabong promises to deliver to its Indian consumers a truly unique and compelling brand and retail offering, which the brand has successfully demonstrated and delivered worldwide.
Arvind Lifestyle Brands has been a pioneer in brining international brands to India and first brought Arrow to India in the year 1993. Arvind Lifestyle Brand has licensing relationships with many international Brands including Gant, Nautica, Arrow, US Polo Association, Izod, Elle, Cherokee, Mossimo and Geoffrey Beene.
Arvind also has a portfolio of 12 of its own brands. It also runs India's largest value retail chain, Megamart and the UK based department store chain Debenhams and the apparel specialty retail chain Next. Arvind has a joint venture with Tommy Hilfiger for the Tommy Hilfiger business in India.
Billabong was founded on Australia's Gold Coast in 1973 as a designer of functional and high quality apparel for the sport of surfing. Billabong is considered one of the foundation brands heading the 'global board sport movement', which today provides a dynamic platform of self-expression for the ever creative youth.
Billabong's focus and values remain firmly committed to the ongoing development of quality products and the development of the board sport channels of surfing, skateboarding, wakeboarding and snowboarding and those who are inspired by the lifestyle.
On a consolidated basis, Arvind's net profit rose 4% to Rs 64.78 crore on 8.7% increase in net sales to Rs 1347.24 crore in Q2 September 2012 over Q2 September 2011.
Arvind is India's largest integrated textile player. It is also one of the largest producers of denim fabrics and is supplier to a large number of fashion brands in the world.
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