Business

Arrow eyes 25-30 pc spike in sales this fiscal

This fiscal, apparel brand Arrow from the Arvind Lifestyle Brands is eyeing a revenue growth of up to 30 % at about Rs 750 crore this fiscal. "This year we will grow 25-30 % and sales wise, we should be about Rs 700-750 crore. Last year, we were about Rs 600 crore,” said Senior Vice-President Rishi Vasudevof Arvind Lifestyle Brands.

Largely a premium menswear brand, Arrow is now bullish on its women's division to drive sales. About 10-12 % sales at present come from women's segment, added Rishi Vasudev, Chief Operating Officer for tailored clothing and sportswear division. "We are present in a few markets only. We had done campaigns in Delhi, Mumbai and Bangalore. But since there is a huge spend in the menswear category, you only tend to see that," he said.

"Arrow is predominantly a male brand and even when you put the women's brand along with it, people still see it as a men's brand. However, we are confident that over time, people will see it as a women's brand also. We have launched women's brand and it is doing very well. It is one of the big drivers of growth for us in the future, because womenswear market will open up," he said.

This year, the company plans to open 40 stores. “We are averaging about three to four stores a month. We have already opened about 20 stores so far this year. We should cross 200 stores at the end of the fiscal," said Vasudev. The brand, which recently launched the stitch-less shirt Super Luxe, normally spends 6-7 % of its sales on advertising. With the festive season coming up, it is betting big on it to drive its business. "We are bullish and are going all out to push on all accounts. Durga Puja sales have started really well and that is a good sign," said the official.