Arvind’s subsidiary, Arvind Lifestyle Brands, one of the largest players in the apparel brands and retail space, has acquired business operations of British fashion retailers Debenhams, Next and American Lifestyle Brand Nautica in India from Planet retail.
Acquisition of ‘Debenhams’ signals the entry of Arvind into the Bridge to Luxury Department store segment. The company plans to increase the current numbers of Debenhams stores in India from 2 to 8 in the next 3 years. Further, the company will also enter into the fast growing segment of apparel specialty retail through ‘Next’. The company plans to increase number of Next stores from 3 to 12 in the next 3 years.
Moreover, the licensing agreement with Nautica will strengthen company’s already strong position in high potential sportswear segment of the market. The company plans to set up additional 30 Nautica stores taking the tally of 41 free standing Nautica stores and 71 shops in next three.
