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History of Arvind mills
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DescriptionBackground of Arvind
Arvind Mills is India's largest and the world's third largest denim manufacturer.
Arvind millsLtd.(AML),the flagship company of the US$ 500 million Lalbhai Group, was incorporated in1931.It aimed at manufacturing high-end superfine fabrics with imported state-of- the-art machinery. With 52,560 ring spindles,2552 doubling spindles and 1122 looms, it was one of the few companies in the early period of India’s industrialization to have spinning and weaving facilities along with full-fledged facilities for dyeing, bleaching, finishing and mercerizing. In the mid 1980s the Indian textile industry was faced with a crisis on account of the power loom sector churning out vast quantities of inexpensive fabric which led to many large composite mills losing their markets. While the company was operating at its highest level of profitability during this period, it took a proactive measure to increase its focus on the international markets to counter the threat from the power loom sector. In 1988, the company entered the export market for two segments, denim for leisure & fashion wear and high quality fabric for cotton shirting and trousers. By 1991, the company had become the third largest producer of denim in the world.
Arvind Mills has been one of the leading textile producers in India. The company is present in both the fabrics and garments segments of the textiles industry value chain. In fabrics, the items of manufacture include denim, shirting, khakis, knitwear and voiles. Denim contributes more than 60percent to the company’s turnover. In the garments segment, it is present in both the domestic and international markets for formal and casual clothing. The company is one of the leading players in the domestic ready-to-wear garments segment. It has successfully launched and established multiple brands - own as well as international ones (under license from the respective companies).Its own brands are managed by its subsidiary ArvindBrands Limited and are marketed in India and some neighboring countries. Own brands include Flying Machine, Newport and Ruff & Tuff in jeans and Excalibur in shirts. Licensed brands include Arrow (formals and casuals),Lee (jeans),Wrangler (jeans) and Tommy Hilfiger (fashion).
Arvind Mills is a composite mill. It has adopted world class, state-of-the-art technology for production, which gives us a significant advantage. Value engineering at each possible level of manufacturing helps to reduce costs. Lower labor cost and a cost-structure at par with international manufacturers at the production level with international manufacturers, give us a cost advantage.
Arvind Mills has witnessed a growth in gross sales during the period 1999 to 2005 at CAGR of 10.6 percent, with gross sales reaching US$ 389 million in 2005. Exports have grown at a CAGR of 8.6 per cent to reach US$ 177 million in 2005. Profit after tax has grown at a much higher CAGR of 43 per cent in the same ...
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