has a portfolio of renowned brands, both international and indigenous. Some of these brands include US Polo Assn., Arrow, GAP, Tommy Hilfiger and Calvin Klein. It is also India’s leading beauty retailer in partnership with Sephora. It owns and runs the value fashion
retail chain, Unlimited.
"The partnership with the Flipkart Group will help us accelerate our online growth strategy as we focus our efforts on developing an omni-channel retail approach for Arvind Youth Brands and Flying Machine,” said J Suresh, managing director and CEO of Arvind Fashions.
He said the company would continue to grow its offline sales through channels like exclusive brand stores, department stores and multi-brand stores.
Devangshu Dutta, CEO of retail consultancy Third Eyesight said this was a good time for any company that had the cash to pick up assets and the new investment would help Flipkart in the value-oriented segment.
“There are about 300 odd brands which have come into the country, but those are (mainly) restricted to the larger cities. When you look at the bulk of the market in terms of just sheer numbers and where the growth potential is, it is in the smaller cities and for targeting those you need a set of brands which actually fit the pocket,” said Dutta. “Flying Machine is one of the oldest and surviving denim brands in the country. It is a brand which fits well with the Indian consumer landscape. So in that sense, it is potentially a good asset (for Flipkart) to back and grow,” he said.
According to experts, fashion
is a $100 billion market in the country with only 6 per cent having been penetrated by the online retail players. With the Covid-19 crisis and the lockdowns severely impacting businesses, experts said an increasing number of retailers, local shops and brands were now looking at e-commerce to jumpstart and scale their business. The pandemic has caused consumers to form new online buying habits and get the products home-delivered via e-commerce platforms to minimise exposure to the virus.
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