Arvind forays into e-commerce space
Textile company Arvind Tuesday forayed into e-commerce space with its clothing brand Creyate and is targeting revenue of over Rs.1,000 crore in three years, the company said in a statement.
"Arvind Internet Ltd will be the vehicle that will enable Arvind's Ecommerce vision. As pioneers in bringing global fashion to India, Arvind now intends to extend innovative and best in class brand experiences to the online world.
"We are all set to be a leading consumer lifestyle player in the digital space by engaging in several business models that can scale globally. Arvind sees eCommerce as a key growth driver for the group and we aim to be a Rs.1,000 crore plus business in 3 years," Kulin Lalbhai, executive director at Arvind Ltd said.
Creyate intends to offer an alternative to ready-wear as well as traditional custom clothing and targets to be a Rs.100 crore-plus brand by next year, the company said.
Creyate has plans of launching stores in 15 cities within the next year. It already has stores in Bangalore, Ahmedabad and Delhi.
Arvind is planning to take Creyate to global consumers next year starting with the US market, where online custom clothing is a large thriving market.
(Posted on 19-08-2014)