Arvind is looking to return the licenses of Gant and American brands Nautica and Aeropostale. Licenses will be returned to their owners. Nautica has been struggling for some time on the global stage as well. Arvind has taken the decision since sales have not matched expectations.
The company is shutting down exclusive stores and, till the time the license expires, the brands may be available exclusively on Flipkart. The plan is to regularly assess its portfolio and focus on brands that create long-term value.
Arvind has 28 global brands available across 1,300 stores. There are three segments where it believes it has the strength to be the leader. These are premium innerwear brand US Polo Assn, premium kidswear brand Gap and premium beauty brand Sephora. From next year, specialty retail and emerging brands are expected to contribute materially to bottom line growth.
Arvind Fashions has power brands such as US Polo Association, Arrow, Flying Machine and Tommy Hilfiger; specialty retail brands such as Gap, Sephora and Unlimited, which are the company’s family fashion store chain, and emerging brands that include Calvin Klein, Aeropostale, The Children’s Place, and Ed Hardy. Arvind also has a specialty value retail format Unlimited.