INDIA: Arvind acquires Debenhams, Next and Nautica franchise rights
Under the franchise agreements, Arvind plans to open six Debenhams and nine Next stores as well as 30 Nautica stores in the country over the next three years.
Sanjay Lalbhai, chairman and managing director of Arvind, said: "With this move, we have taken a big step towards strengthening our position in the Indian fashion industry. These acquisitions will accelerate our growth and contribute to our vision of achieving sales of INR50bn (US$938,600) over the next five years."
While, J Suresh, MD and CEO of Arvind Lifestyle Brands said: "We plan to achieve INR5bn revenue over [the] next five years from current INR700m by investing INR1.5bn into these three brands."
Last month, Indian fashion house Genesis Colors denied it was in talks to acquire the Indian franchise rights of the Next, Debenhams and Nautica brands, while Arvind was also in the race.
Despite booking a 9% rise in full-year underlying pre-tax profit, UK fashion retailer Next Plc was forced to admit that it had suffered a slow start to the new year. Here is a flavour of what leading ...
Retailer Marks & Spencer has reported worse-than-expected Christmas trading figures, with a poor performance in its general merchandise business - which includes clothing and footwear - offsetting str...
Vietnam's leading textile and garment manufacturer, Thanh Cong textile Garment Investment Trading JSC (TCM), has begun construction of new knitting plant in a bid to supply material for its own produc...
UK department store operator Debenhams has warned that first half profit will be hit after snow in January led to a fall in sales....
Upscale footwear, handbags and accessories retailer Coach Inc has added two executives to its creative team to help it develop into a global lifestyle brand....
UK department store operator Debenhams is set to bolster its presence in the Baltics, with plans for stores in Latvia and Estonia. ...
US swimwear manufacturer A H Schreiber Company has opted for a PLM/SRM solution offered by UK-based provider DeSL....
- New wage ladder lifts workers towards living wages
- US retailers to face logistics issues into 2015
- African apparel sector needs cooperation to thrive
- UK fashion sector prospects depend on partnerships
- New scenarios driving sustainability in textiles
- Bangladesh worker dies as factory boiler ruptures
- Gap unveils management changes as Q3 profit rises
- Long-running SL Garment dispute settled
- Eight footwear factories lead on social compliance
- Global unions join forces on apparel wage poverty
- Li & Fung Limited (494) - Financial and Strategic SWOT Analysis Review
- Global market review of denim and jeanswear – forecasts to 2020
- Prospects for the Textile and Clothing Industry in Vietnam
- Moisture Management Fabrics: Key to Wearer Comfort
- Global Apparel Markets: Product Developments and Innovations, 2nd Quarter 2014