Arvind Lifestyle Brands, a unit of textile maker Arvind , has signed an agreement to distribute Billabong, one of the world's largest surfwear brands with sales of USD 1.5 billion, in India.
"Arvind will market Billabong's products through open standalone stores, as well as shop-in-shops in department stores and leading multibrand stores," it said on Wednesday.
Arvind Lifestyle Brands already sells various apparel labels like Arrow, Elle, US Polo, Cherokee, Izod, Geoffrey Beene and Tommy Hilfiger among others, either through licenses or joint ventures.
In September this year, it acquired the business operations of British fashion retailers Debenhams and Next and American lifestyle brand Nautica in India from Planet Retail. It has a network of 730 outlets and 650 shop-in-shop counters.
"The distribution arrangement with Billabong will significantly enhance Arvind's already strong position in the high potential youth segment," the company said.
J Suresh MD and CEO had said earlier that Arvind Brands is expecting sales of Rs 5,000 crore in the next five years, helped by strong growth in the existing business and acquisition of new brands. Last year, the company had revenue of Rs 1,600 crore.
Arvind shares were up about 1 percent at Rs 90.80 on NSE in morning trade.
Nachiket Kelkar
nachiket.kelkar@network18online.com
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