Mumbai, Feb. 11: Arvind Lifestyle Brands, a subsidiary of Arvind Ltd, today signed an agreement with US-based Hanesbrands Inc to market and sell the Hanes and Wonderbra brands. It also acquired the India operations of Hanesbrands for an undisclosed sum.
The development signals the entry of Arvind into branded apparel essentials. While the overall men’s inner-wear brand is estimated at Rs 7,200 crore, the women’s inner-wear brand is at Rs 10,800 crore, with 60 per cent in the organised sector and 40 per cent in the unorganised sector.
Arvind Lifestyle is now looking to generate Rs 500 crore revenue in the next four years in this niche segment, hoping to capitalise on the huge potential in this market that is expected to grow at least 18 per cent annually.
“We have entered into an agreement to market and sell basic and intimate apparel in India under the Hanes and Wonderbra brands under a licensing agreement with US-based Hanesbrands Inc,” Arvind Ltd chairman and managing director Sanjay Lalbhai said today.
Arvind Lifestyle had earlier acquired the operations of foreign brands Debenhams and Next & Nautica.
J. Suresh, managing director of Arvind Lifestyle Brands, said the company planned to increase the number of Hanes points of sales in India to 15,000 from 5,000 in the next three years.