He sees exciting opportunities in the footwear sector, particularly in end-to-end manufacturing.
Lalbhai highlighted that footwear is already one of Arvind Fashions’ key growth drivers, contributing 15% to the business. He aims to increase this share to 30% in the coming years.
The company is particularly focused on casual sneakers, selling nearly 2.5 million pairs across its brands.
“We are also planning to get into footwear manufacturing of sneakers because it is similar to garment manufacturing, which is our skill set,” he said.
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Lalbhai acknowledged that demand has been subdued in recent quarters but remains cautiously optimistic about future growth. He expects factors like Budget decisions and the upcoming summer season to boost sales.
He also pointed out that stronger brands tend to gain market share during challenging times, which has helped Arvind Fashions outperform the general market averages in terms of growth.
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“Another thing I am seeing in the market is whenever it’s a market which is a little bit more challenging, the brands which are stronger and relatively are able to execute better, tend to gain market share. So, we are quite happy, where we are concerned, that we have been able to have like-for-like growth, which has beaten the general market averages. And we will continue to ensure that even in this kind of market, we achieve the growth ambition we have set for ourselves,” he said.
Arvind Fashions currently has a market capitalisation of ₹5,126.77 crore, but its shares have declined nearly 22% over the past year.
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