Arvind Mills lines up 1k-cr expansion abroad

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Arvind Mills, the country’s largest denim manufacturer, is looking to set up facilities in Sri Lanka and South Africa to expand its manufacturing reach and retail presence in India and abroad over three to four years and would invest around 1,000 crore for the programme.

Arvind, in association with Bangladesh conglomerate Nitol-Niloy group, is building a denim manufacturing facility for 250 crore near Dhaka. Arvind, which is one of the largest textile exporters, plans to scale up its manufacturing capacity by 70 million metres per year to 300 million metres, including denim and other fabrics, by 2015.

The company will finance its expansion plan mainly through internal accruals. It has 600 acre of surplus land in Gujarat, where the company is developing real estate projects. The company plans to expand its garment retail business through its own format of mega and big-mega mart in local market and in overseas through multi-brand retailers.

In India, the company will add more than 200 stores with an investment of 150 crore over three years. It now has a retail chain of 175 stores.

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Source : News Reports


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