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Sagar Malviya & Richa\nMaheshwari, The Economic Times\n<\/i><\/p>\n
Sagar Malviya & Richa\nMaheshwari, The Economic Times
\n<\/i><\/p>\n
Mumbai\/Bengaluru, 22\nJune 2016<\/i><\/p>\n
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Apparel\nbrand US Polo crossed the Rs 1,000-crore sales mark in India in the\nfiscal ending March 31, less than five years after it entered the\ncountry, according to a top executive of the company. US Polo’s\nfastpaced sales puts it in the same league as Zara, which became the\nbiggest apparel brand in India within four years of setting up shop.
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\nZara now clocks over Rs 1,000 crore in retail sales here. In\ncomparison, brands such as Louis Phillipe, Van Heusen and Benetton had\ntaken nearly a decade to reach this mark.
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\n“We caught the consumer trend with a fashionable but highly affordable\nbrand,” said J Suresh, managing director of Arvind Retail, which holds\nlicence to sell the brand. “The iconic logo with two polo players on\nhorses helped too. India is possibly fastest growing market by sales\nand stores addition.”
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\nArvind Retail opened the first US Polo store in India in 2011 and has\nsince added nearly 230 more. The 750-sq ft store at Select City Walk in\nDelhi on average rakes in Rs 225 per sq ft a day. Zara, on the other\nhand, makes on average Rs 150 per sq ft each day from the same mall,\nalthough from a bigger store.
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\nAccording to Suresh, the company plans to open one US Polo store every\nweek over the next few years as part of Arvind’s broader push to grow\nits retail business. <\/p>\n
“Two factors\nhave worked: they are more casual driven and less about fashion and\nsecond, they are a value international brand and well positioned on\nprice, which appeals to wider audience,” said Devangshu Dutta, CEO at\nThird Eyesight.<\/p>\n