Arvind Fashions Bets On Small Towns To Aid Growth In FY20
Arvind Fashions Ltd. plans to open new outlets in tier-II cities and towns to boost growth in financial year 2019-20.
“We are looking at adding stores in largely small towns as demand for our power brands was healthy in a pilot conducted last year,” J Suresh, the garment retailer’s managing director and chief executive officer told BloombergQuint. “We will continue to open stores in 75-80 towns we have identified.”
Arvind Fashions, which calls its licensed international brands such as U.S. Polo, Arrow and Tommy Hilfiger and its in-house label Flying Machine as “power brands”, said it plans to open around 125-150 outlets for their power brands in FY20.
Key Highlights (Q4, YoY)
- Revenue rose 2 percent to 1,169 crore.
- Ebitda rose 13 percent to 85 crore.
- Net profit rose 1.5 times to 21.3 crore.
The shares were locked in the lower circuit of 10 percent in today’s trade compared with a 0.4 percent gain in the Nifty.
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