Arrow, the premium apparel brand marketed by Arvind Brands, as part of its expansion plan, will add eight more exclusive stores by the year end in various parts of the country.
It is aiming at revenues of Rs 145 crore in 2006-07 fiscal as compared with around Rs 100 crore in 2005-06.
At present, Arrow is available through 57 exclusive stores and in over 200 multibrand operators and retailers.
“We intend to reach out to more customers by adding eight exclusive stores in the north, south and west of the country. Last year, our revenues grew significantly (from Rs 75 crore to Rs 100 crore). This year, we are targeting a 45 per cent growth. We want to maintain a healthy 30 per cent growth rate over the next five years,” Darshan Mehta, president, Arvind Brands told Business Standard.
The exclusive stores are likely to come up in Nagpur, Mumbai, Ludhiana, Amritsar, Jalandhar, Lucknow, Chennai and Ambala. Arrow may open an exclusive store in Siliguri in West Bengal. Though the North East is not on Arrow’s agenda, Mehta contended that the region may be in focus in the coming years.
“The North East region is gradually opening up. We may like to have our presence there,” he stated.
Mehta pointed out that Arrow may achieve a significant growth between 2007-08 when around 280 shopping malls are expected to come up all over the country. “This is why 2007-08 is a crucial phase for us. It may give a new dimension to our business approach,” he said.
Arrow company, a division of Phillips-Van Heusen Corporation, USA, entered India in 1993 through Arvind Brands. Arrow has launched a new range of accessories (caps, bags, ties, belts and socks), inner wear, sports wear and leather wear and women’s wear.
“Now our focus is on big stores where we intend to portray a three-dimensional picture of Arrow lifestyle. It will be our approach at all future stores,” he added.
On Friday, Arrow launched its latest store in Bangalore, which it claims is the largest in the world. Situated on Brigade Road at the heart of the city’s shopping and business centre, the store measures 4,000 sq feet.
“The new store will offer the latest Arrow collections for both men and women. Bangalore is a very important market for us and we are promising our customers the very best – in service, style and comfort,” Mehta said.
It is currently displaying the latest Fall-Winter collections from Arrow premium, classic, urban and sport for men, corporate and urban wear for women.