INDIA: Arvind in licence deal with Hanesbrands
Arvind Lifestyle Brands has revealed its ambitions in the branded underwear segment, entering a licensing agreement to sell basic and intimate apparel under the Hanes and Wonderbra brands.
The deal signals Arvind's entry into the branded underwear market. It plans to increase the number of Hanes points of sale in India from 5,000 to 15,000 over the next three years.
"In the past we have focused on and built a strong position in the Indian men's wear, women's wear, and kid's wear segments, with one of the strongest portfolios of home-grown and acquired global brands," said J Suresh, managing director and CEO of Arvind Lifestyle Brands.
"It was only logical then, that we look at the branded apparel essentials and lingerie market as the next area of growth, given the changing lifestyles of Indian consumers and the subsequent shift in consumption to the organised sector therein.
"The transition will give us a new edge to our product portfolio. We plan to grow the Hanes vertical within Arvind to achieve INR5bn over the next four years."
Revenue falls in both wholesale and retail segments sent intimate apparel business Maidenform Brands to a 31% fall in second quarter net profit....
Basic apparel manufacturer Hanesbrands has seen its second-quarter net profit soar thanks to substantially lower cotton costs and its innovate-to-elevate initiatives....
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