Arvind group puts strategies in place to tackle pandemic uncertainties
28th July 2021, Mumbai:
FY 2021 was a challenging year for Arvind’s core textile and apparel businesses. There was a sharp reduction in demand across all markets especially in the early part of the financial year.
However as countries learn to live and cope with Covid-19, many export markets have started to resume.
By the second quarter, several of Arvind’s export customers had started placing orders, partly driven by their online demand.
This year is likely to see growth in demand as Arvind’s retail and distribution pipelines are running low on inventory.
The company’s sampling process has moved online, and sets the company up for a much speedier response to the market.
The company is also investing in blockchain based solutions to improve input traceability.
Uncertainties due to the pandemic still persist despite expectations of the domestic market returning to form as the second wave recedes and the festival season comes closer.
Arvind wants to double revenue from its textile business over the next four or five years.
The company is looking to ramp up in garmenting (making garments from fabrics) from 10 per cent at present to 50 per cent.
It is in the process of de-merging its brands and engineering businesses into separate entities.
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Arvind puts strategies in place to tackle pandemic uncertainties
