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Arvind’s net profit fell 42 per cent in FY2016-17

Textile major Arvind has recorded a 41 per cent decline in net profit for the year ended March from a year ago. Revenue for the same period grew 9.7 per cent. With demonetisation, and a sharp increase in cotton prices and appreciation of the rupee, Arvind feels it has had a satisfactory performance. It expects to continue to have double digit growth in the coming financial year led by robust growth in its brand and retail business.

The Ahmedabad-based company has a portfolio of own and licensed brands. Its own brands include: Flying Machine, among others, while its licensed product brands include Tommy Hilfiger, Calvin Klein, Arrow, Gant, Nautica, Gap, and Aeropostale.

Arvind’s textile business (denim and fabric) contributes 60 per cent to total revenue and the rest is by brands and retail business. Arvind is one of India’s largest integrated textile and apparel companies. The company is also one of the largest producers of denim fabrics and is supplier to a large number of fashion brands in the world.

Arvind has launched its ready-to-wear brand. The brand, also called Arvind, will initially be available in Gujarat and Karnataka at 50 Arvind stores. It will then go on to all such 170 stores across 100 cities and the company’s 10,000 points of sale. The ready-to-wear brand will have clothes under the categories of work, leisure and ceremonial.

 

 
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