Indian textile company Arvind Ltd aims to double the revenue from its retail business to INR800 crore (INR8 billion, USD171.1 million) by 2013-14 from INR400 crore (INR4b, USD85.5m) by the end of this fiscal year. The company will invest around INR300 crore (INR3b, USD64.2m) on an incremental basis over the next three years in order to expand its retail footprint across the country, according to Kulin S Lalbhai, chief manager of retail at Arvind.
At a recent press conference on the company’s future, Lalbhai stated, "Arvind is moving from a business-to-business model to a business-to-consumer model. Over the next three years, we will be building on the Arvind brand and the direct retailing business."
The company also plans to open "15-20 stores in each state". "Andhra Pradesh, Tamil Nadu, West Bengal and Maharashtra are our key markets," said Lalbhai.
(Source: The Hindu Business Line)