Arvind Mills fabric division eyes Rs 418-cr turnover

NEW DELHI: Fabric manufacturer Arvind Mills has set Rs 418 crore sales target for its bottomweights and shirtings business in 2002-03."The division targets a 10 per cent sales growth in the current fiscal year over the last year figures from its sale of fabrics meant for shirts and trousers," head of international sales Giirish Rao said.The fabric division posted Rs 380-crore turnover in last fiscal year, he said adding more than two-third sales came from selling fabrics to overseas buyers.Selling fabric collections to overseas buyers would still continue to be the main thrust area in 2002-03, Rao added.Arvind Mills supplies its fabrics portfolio to some of the most prestigious global brands, he said.Company's fabrics are sourced by global brands like GAP, Banana Republic, Tommy Hilfiger, JC Penny, Flex, Polo Ralph Lauren, Rao said adding premium domestic brands like Allen Solly, Arrow, Benetton, Colour Plus, Lee, Park Avenue also make garments from fabrics produced by Arvind.Arvind Mills with 30 million metric tonne per annum capacity produces 50 per cent of high value cotton shirting fabrics for domestic organised segment.The market price for cotton shirting fabric stands at Rs 90 and above per meter, Rao said and added "fabric demand for shirting is growing at 12 per cent per annum".The trouser fabric market is growing at 20-25 per cent annually, he added.