Arvind (company)
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| Public (, : ) | |
| Industry | Conglomerate |
| Founded | 1931 |
| Headquarters | Ahmedabad India |
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Key people
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Sanjay Lalbhai (Chairman and Managing Director), Punit Lalbhai (Executive Director), Kulin Lalbhai (Executive Director), |
| Products | Denim, knits, woven, engineering, retail, telecom, advanced material, agribusiness, real estate, the Arvind Store |
| Revenue | ₹5,407.26 crore (US$840 million) (2016) |
| ₹318.85 crore (US$50 million) (2016) | |
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Number of employees
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25,620 |
| Parent | Lalbhai Group |
| Website | www |
Arvind Limited (formerly Arvind Murty) is a textile manufacturer and the flagship company of the Lalbhai Group. Its headquarters is in Naroda, Ahmedabad, Gujarat, India. It has units at Santej (near Kalol). It manufactures cotton shirting, denim, knits and bottomweight (khaki) fabrics. It has also recently ventured into technical textiles when it started Advanced Materials Division in 2011. It is India's largest denim manufacturer apart from being the world’s fourth-largest producer and exporter of denim.
Sanjaybhai Lalbhai is the Chairman and Managing Director of Arvind and Lalbhai Group. In the early 1980s, he led the 'Reno-vision' whereby the company brought denim into the domestic market, thus starting the jeans revolution in India. Today it retails its own brands like Flying Machine, Newport and Excalibur and licensed international brands like Arrow, Tommy Hilfiger, through its nationwide retail network. Arvind also runs three clothing and accessories retail chains, the Arvind Store, Unlimited and Megamart, which stocks company brands.
In the mid-1990s, the company undertook a massive expansion of its denim capacity even though other cotton fabrics were slowly replacing the demand for denim. The expansion plan was funded by loans from both Indian and overseas financial institutions. With the demand for denim slowing, the company found it difficult to repay the loans, resulting in an increased interest burden on the loans. In the late 1990s, the company encountered financial problems due of its debt burden, resulting in incurring significant losses.
The company came up with a debt-restructuring plan for the long-term debts being taken up in February 2001. This complex financial restructuring exercise, which involved several domestic and international lenders, is considered to be the benchmark and a case study in India. The restructuring was overseen by Jayesh Shah, CFO, and advised on by a JP Morgan Hong Kong team, led by Ahmad Ayaz.
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