Leveraging technologies to create fabrics, denim, says Arvind's CEO Akhtar
It has plans to list its branded apparel business, Arvind Fashions, into a separate entity
Mumbai: Arvind Limited, textile to retail and brands conglomerate along with INVISTA, integrated producers of fibres, has launched its latest denim collection named Gravity, at its annual event Arvind Festive 2018. It also introduced Ikat denim, a new indigo dyeing technology, which it claims is sustainable compared with traditional dyeing techniques.
Woven-knit denims category has been driving the Indian denim market for last few years. Commenting on the Festive 2018 event, Aamir Akhtar, CEO, Denims, Arvind Ltd. said, “Arvind Limited is taking steps for leveraging innovative technologies to create the fabrics across performance, fashion, and functionality." Ahmedabad-based Arvind Ltd expects Rs 10,000 crore business from its textiles business in the next four to five years, a top company official said.
Ahmedabad-based Arvind Ltd expects Rs 10,000 crore business from its textiles business in the next four to five years, a top company official said, a PTI report said. Besides, in the next three to five years, the company intends to invest Rs 1,500 crore in the textiles business to expand capacity of its existing units as well as set up new facilities.
The company is exploring newer areas such as athleisure, where it is sensing a significant opportunity. "Overall the textiles business for us is around Rs 6,000 crore and we would take it to Rs 10,000 crore over the next 4 to 5 years," Akhtar said.
The company expects to continue its CAGR growth of 16 percent and above in the coming years, he added.
Arvind Ltd is in the process of demerging its branded apparel and engineering businesses. It has plans to list its branded apparel business, Arvind Fashions, into a separate entity. Arvind Ltd is in denim, knits & wovens and voiles textiles segments.
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