02 September 2021, Mumbai:
Arvind Fashions (AFL) plans to open around 500 new stores over the next three years. The company had recently raised Rs 439 crore ($59.3 million) from various marquee investors including promoters to fuel its expansion plans.
As per Fashion Network, AFL also plans to invest heavily to strengthen its online presence to boost its overall sales going forward. Kulin Lalbhai, Director, says, the expansion would enable the company to clock a 15 percent cumulative average growth rate year-on-year.
AFL has a portfolio of both international and indigenous brands which includes US Polo Assn, Arrow, Tommy Hilfiger, Calvin Klein, Flying Machine, Aeropostale, and Ed Hardy, etc. Its brands are retailed in over 1,300 standalone stores and about 5,000 departmental and multi-brand stores in over 192 cities and towns across India. Every season, AFL sources over 30 million products.
TOP 5:
- Vasaas, a multi-brand fashion e-commerce platform, has over 400 Indian labels on board and expects to reach 1,000 by the end of the year
- Pastels & Pop, a shoe brand, has opened a store in Bengaluru
- Libas, an ethnic clothing business, has opened outlets in New Delhi
- Bhumi Pednekar is the first Indian brand ambassador for MAC Cosmetics
- Shanaya Kapoor, Vir Das, Divyendu Sharmaa, and Rohit Saraf have joined Misfit as brand ambassadors
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