Textile manufacturer Arvind Fashions has seen almost half of its business done through online channels in the second quarter of fiscal 2021.
Speaking to CNBC-TV18, Kulin Lalbhai, Director of Arvind Fashions said, “Digital is a real exciting chapter for us. It was already a significant part of our business close to 15 percent last year. In Q2, almost 40-50 percent of our business has been online and it is growing 20 percent year-on-year.”
Lalbhai expects the momentum in online sales to accelerate further post COVID and said that the compny was very well placed on the digital side.
On Q2FY21 earnings, he said that the recovery had been consistent and expects to hit EBITDA break-even in Q3.
“We have ended Q2 with 52 percent and as we have approached Diwali we are actually tracking 75-80 percent of last year’s numbers. So it is a strong month-on-month trend and we expect to hit EBITDA break even in Q3 itself,” he added.To know more about the company's Q2 performance, watch the video.