American apparel brand Tommy Hilfiger’s India joint venture with Arvind has registered a 66 per cent rise in its profits in the last fiscal year ended March 31, 2014, the company said in a filing to the Registrar of Companies.
Tommy Hilfiger Arvind Fashion reported a 24 per cent increase in sales to Rs 235 crore, with a profit of Rs 10 crore during the fiscal year, due to strong wholesale and retail sales. This is nearly three times the Rs 80 crore revenue it earned in 2011.
In September this year, Tommy Hilfiger brand celebrated its 10 years of being in India, with the visit of the ionic American fashion designer Tommy Hilfiger to India.
In June 2012, Tommy Hilfiger Arvind had put a proposal with the Department of Industrial Policy and Promotion (DIPP) to open dozens of company-owned stores and add 500 points-of-sale. However, DIPP has not given its nod yet stating that the company cannot operate a combination of own stores, wholesale and franchisee outlets at the same time. (RKS)
