India now fastest growing market for US Polo Assn
Mint the company is targeting a billion-dollar business over the long term from India. “We are very excited about the India opportunity and the growth in the market," Prince said. As of now, USPA is close to a ₹2,000 crore brand in India, said Kulin Lalbhai, vice chairman and non-executive director, Arvind Fashions.
“In the Indian market, US Polo Assn. has truly broken out as a leader. We will very soon cross the ₹2,000 crore mark.
It took us around 10 years to hit the first ₹1,000 crore, and possibly in four years we are hitting the next ₹1,000 crore. That’s the way the brand is dominating the category and the beauty of this is that it’s a brand loved by people across age groups and segments. It’s become kind of larger than life." US Polo Assn has a presence in 190 countries across 1,100 stores, which it plans to take to 2,000 by 2030.
It first signed a licensing agreement with Arvind Fashions in 2007 for India entry, but it was in 2009 that the brand’s merchandise officially became available in India. As of now, Arvind Fashion runs 425 exclusive US Polo Assn stores in India and is planning to add at least 50 more every year, Lalbhai said. The brand’s growth strategy covers brick-and-mortar, omnichannel and e-commerce.
“Currently, 25% of the business is via digital and with a dedicated site, this will further grow. But, I don’t see any major change in the mix as we are also aggressively increasing our offline presence in the country. We have mapped by PIN codes and we are already in over 200 cities, so it’s time to even go in tier II and III cities," said Lalbhai.
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