Arvind Fashions has scaled up its digital and omni capabilities and expects that strength of its brands, coupled with launch of new relevant product and investments in digital and omni-channels will help it overcome the challenges and react to evolving situation faster. It has put in place a comprehensive cost management plan that covers significant reduction in costs during the lockdown period and until sales normalize.
Post lockdown, the company has been progressively reopening its stores following due regulatory guidelines and following due safety and hygiene SOPs and ensuring appropriate social distancing norms. Currently 75 per cent of its stores are operational, though footfalls and revenue remain well below pre-COVID levels. n addition, structural reductions have been effected in the cost structure that will have the impact of reducing company's breakeven levels by 35 per cent. Actions have also been initiated to conserve cash by cutting down capex, reducing inventory levels, controlling immediate buys and bringing a strategic flexibility in the buying process.