Mumbai, May 12: Arvind Mills is targeting a retail business revenue of Rs 400 crore in 2009-10 and plans to raise Rs 700 crore over three years towards debt repayment. The amount would be raised through a combination of cash flows from fabric operation, capital infusion from the promoters and sale of non-strategic assets, Chairman and Managing Director Sanjay Lalbhai told newspersons here today.
The company also plans to transform itself from a pure fabric and apparel solutions company to a strong diversified business group with focus on branded apparel retail, Mr Lalbhai said adding, ''We expect a 40 per cent CAGR in brand business driven revenue from new brands such as US POLO, IZOD and Hartmarx group of brand and a 40 per cent growth in its joint venture business. The share of fevenue from braded apparel business is likely to be about Rs 700 crore in the next two years.''
Further, the company will open at least five more malls in the cities including Pune, Hyderabad, Faridabad and Chennai by the end of this fiscal. Value retail under the umbrella of Mega Mart is targeting an eight-fold increase in revenue from present Rs 140 crore to Rs 1000 crore over three years and targets to open 30 retail stores in 21 cities in next five years, Company CFO Jayesh Shah said.