Kulin Lalbhai, Director at Arvind Fashions, on Thursday said that the company's revenue will come back to pre-COVID levels next year.
Arvind Fashions is now focusing on six high conviction brands, large brands and profitable brands. The company plans to invest in these brands.
“The fundamental demand patterns of the category are improving. Arvind is now focusing on six high conviction brands, large brands, profitable brands and we are looking to invest behind these brands in a real way bringing in fresh talk investing behind them. We expect the growth to come in,” Lalbhai said in an interview with CNBC-TV18.
“With spring, summer coming in, you will see a lot of fresh inventory coming in, all the stores will start looking very fresh and new and we are expecting that it will help us in cementing this recovery,” he said.
The festive demand was very strong for the company. “The online channel outperformed it. That was one of the reasons we were able to beat both our topline and bottomline forecast,” he said.
“Right now we are cautiously optimistic that the recovery is well set. Q4, we will grow on growth over last year. We will see growth in Q4 over the last year,” he mentioned.
Lalbhai expects the margins to improve. “As the fresh stock comes in, the margins will also strengthen. We believe that we will be able to protect our margins even though there is a raw material price increase,” he said.
The company has reduced the debt significantly this year. “More than Rs 200 crore of debt has gone down, the balancesheet has strengthened,” Lalbhai said.
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(Edited by : Niral Sharma)
First Published: IST