Arrow Co, a division of Cluett Peabody and Company Inc, US, the premium men's wear brand is planning to foray into women's wear segment in India by the end of the next financial year.
The company plans to launch the entire wardrobe requirements for the fairer sex. The company has already introduced the Arrow brand women wear in countries such as France, Spain and a couple of North American countries among others.
"After being leaders in men's fashion, we are planning to introduce the Arrow brand of women's wear in India. The market for the lady's wear is a niche one and is limited to metros only. However, there is a huge potential as, at present, the market is growing at a promising rate," Janak Dave, business head, Arrow, Arvind Brands Ltd (ABL), said.
The company will launch the Arrow brand of women's wear in the premium segment, targetting the working class lady executives in metros and mega cities.
The company has reported a turnover of Rs 60 crore (Rs 600 million) by the end of the last financial year and targets a growth of 25 per cent in its turnover in the current financial year.
Arrow commands over 25 per cent of the market share in the premium segment in the Indian market and over 10 per cent of its revenue comes from exports to Middle East and Saarc countries.
Apart from launching the Arrow brand of women's wear, the company is also planning to introduce accessories such as ties, belts, socks, sunglass bags, jackets and wrist watches among others.
As 25 per cent of its turnover comes from the sports segment, the company plans to consolidate its position in the segment by remodelling the Arrow brand and opening exclusive stores for the sports segment.
"The company has launched its sports collection four years back, owing to good response from the market we are planning to split the Arrow brand to Arrow Sports' and open exclusive showrooms for it," said Dave.
Arrow has a network of over 48 exclusive outlet across the country and the brand is available in over 42 retail chains including Life Style, Shoppers' Stop, Globus and Piramyd among others.
