Arvind Fashions is exiting loss-making global brands. Arvind Fashions is looking to sell the India licenses of Gant, Izod and Nautica. It is either scaling down or weighing to exit the US-based Ed Hardy. While the profitable US brand Arrow has been clubbed with Calvin Klein and Tommy Hilfiger, to be led by Shailesh Chaturvedi, loss-making Aeropostale has been merged with the department handling another struggling US label Gap.
Arvind Fashions evaluates milestones of its portfolios every year and looks at scaling opportunities for them and takes decisions based on that. With the new changes, Parag Dani will handle Gap and Aeropostale while Alok Dubey will take care of US Polo and Flying Machine and both of them will report to chief executive J Suresh. Both Suresh and Chaturvedi, head of Calvin Klein and Tommy Hilfiger, will continue to report to the board. Arvind has 28 global brands available across 1300 stores. There are three segments where it believes it has the strength to be the leader. These are premium innerwear brand US Polo Assn, premium kidswear brand Gap and premium beauty brand Sephora. From next year, specialty retail and emerging brands are expected to contribute materially to bottomline growth.