<p>Textiles and apparels company Arvind on Wednesday announced formal launch of its suit manufacturing business through its joint venture with Japanese firm Goodhill at Bangalore. <br /><br /></p>.<p>Arvind Goodhill Suit Manufacturing said that it is looking at Rs 100 crore revenues from the first year of operations.<br /><br />The 51:49 joint venture (51 per cent by Arvind) entailing an investment of Rs 40 crore is split equally into debt and equity and employs about 1,000 people.<br /><br />At a press conference here, Executive Director of Arvind, Kulin Lalbhai said, “The venture marks our entry into the suit-making segment and will support our customised clothing business ambition.” He estimated the branded customised clothing market at $1 billion annually.<br /><br />The facility that currently makes men's suits would also look at making women's suits in the future, he added.<br /><br />On Arvind's topline growth, he said that the company's cumulative growth in the first three quarters during the current financial year was about 25 per cent (year-on-year) and full year turnover is likely to be about $1 billion.<br /><br />Arvind had reported Rs 3,554 crore operational revenues for the first nine months of 2013-14 as against Rs 2,834 crore in the corresponding period of 2012-13.<br /><br />Arvind said that it also plans to set up knitwear unit in Chitradurga and shirting unit in Arsikere (Hassan).</p>
<p>Textiles and apparels company Arvind on Wednesday announced formal launch of its suit manufacturing business through its joint venture with Japanese firm Goodhill at Bangalore. <br /><br /></p>.<p>Arvind Goodhill Suit Manufacturing said that it is looking at Rs 100 crore revenues from the first year of operations.<br /><br />The 51:49 joint venture (51 per cent by Arvind) entailing an investment of Rs 40 crore is split equally into debt and equity and employs about 1,000 people.<br /><br />At a press conference here, Executive Director of Arvind, Kulin Lalbhai said, “The venture marks our entry into the suit-making segment and will support our customised clothing business ambition.” He estimated the branded customised clothing market at $1 billion annually.<br /><br />The facility that currently makes men's suits would also look at making women's suits in the future, he added.<br /><br />On Arvind's topline growth, he said that the company's cumulative growth in the first three quarters during the current financial year was about 25 per cent (year-on-year) and full year turnover is likely to be about $1 billion.<br /><br />Arvind had reported Rs 3,554 crore operational revenues for the first nine months of 2013-14 as against Rs 2,834 crore in the corresponding period of 2012-13.<br /><br />Arvind said that it also plans to set up knitwear unit in Chitradurga and shirting unit in Arsikere (Hassan).</p>
