With apparel industry growing in India many companies is turning toward apparel. Arvind Limited, producer of composite manufacturer of textiles head-quartered in Ahmedabad, Gujarat has also set its focus to venture into apparel market. Through its subsidiary, Arvind Garment Park Pvt Ltd plans to set up its first apparel park over an area of 300 acres in Gandhinagar along with a garment manufacturing plant within the park as its anchor unit, in a bid to strengthen its own apparel manufacturing.
The apparel park project cost is expected to be around Rs 150 crore and will be commissioned by March 2015. While garment manufacturing plant is also planned with an investment around Rs 125 crore will have a capacity of nine million pieces. Expected to commission in next 12 months, the apparel manufacturing plant will garner expected revenue of Rs 600 crore, confirming the development, Jayesh Shah, director and chief financial officer, Arvind Ltd said.
The new Arvind plant in the upcoming park is believed to be set up with an intention to consolidate on the company's growing brands and apparel retail business. In the recent third quarter results, Arvind Limited saw its brands and retail segment grew by 30% whereas its garment manufacturing grew by 35%.
Shah also said that they have already been approached by about 7-8 garment convertors and manufacturers and evinced interest in setting up an apparel manufacturing unit in the upcoming apparel park in Gandhinagar. In all, the apparel park premises can host around 20 units.
While the total investment by such units is expected to be around Rs 300 crore, the potential revenue generation capacity of the park is being estimated at about Rs 1500 crore, most of which will come through exports, Shah added.
The group already has licensing relationships with international brands such as Gant, Arrow, Izod, Energie, US Polo Association, Elle, Cherokee, Mossimo, Geoffrey Beene, Debenhams, Nautica, Next and Hanes, among others.
Arvind Limited has upped the ante in its brands and retail business segment, with the expansion in its apparel manufacturing capacity by another nine million pieces. Its current brands & retail businesses stands at around Rs.2000 crore of its total revenue which is now set to achieve to Rs.5000 crore in the next 5 years.
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