Arvind expands Experience Store

Wednesday, 11 May 2011

The world’s single largest denim producer Arvind launched its first Arvind Experience Store in Gujarat, in the commercial city of Vadodara recently. This is the eighth store in India, with the other seven stores being in the southern state of Andhra Pradesh. This indicates that Arvind Experience Store is going pan Indian in the years to come. Sanjay Lalbhai, Chairman and Managing Director, Arvind is now keen to focus on retail, brands and domestic market instead of sticking to exports. Arvind, which is at present known as one of the best denim producers of the world, is also aiming to be a retail giant. At the Vadodara store launch Lalbhai pointed out that in the next four years the company has set a target of 100 per cent growth in its turnover and will focus more on domestic sales. The ‘Arvind Experience Store’ is built up on massive area of 2,000 sq. ft. in Vadodara and houses world-class brands like US POLO Association., Flying Machine and Arrow.

Arvind grew to global force in denim production after two of the largest denim producers in the world - Santista in Brazil and Isco in Turkey -- closed down operations. Lalbhai elaborated on the steps being taken to reduce the company’s debt. At present they have a debt of around Rs 2,200 crores. Compared to that, their net worth is around Rs 1,700 crores. So the ratio is 1:1, which is sustainable. But they have set a target to reduce the debt against the net worth and are aiming for a 0.5:1 ratio.

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