{"id":1918,"date":"2012-12-03T05:41:33","date_gmt":"2012-12-03T05:41:33","guid":{"rendered":"http:\/\/www.franchisemart.in\/franchise\/?p=1918"},"modified":"2012-12-03T05:41:33","modified_gmt":"2012-12-03T05:41:33","slug":"international-womens-brand-avirate-plans-to-invest-in-india","status":"publish","type":"post","link":"https:\/\/www.franchisemart.in\/franchise\/international-womens-brand-avirate-plans-to-invest-in-india\/","title":{"rendered":"International women\u2019s brand Avirat\u00e9 plans to invest in India"},"content":{"rendered":"

\"\"<\/a>The premium international women\u2019s wear brand Avirat\u00e9, retailed exclusively in India by Fashion 365 Retail, a subsidiary of Sri Lanka based Timex Garments, has planned to invest Rs 20 crore for expanding its operations across India.<\/p>\n

The Company started operations in India in 2011, with three company owned stores in Bangalore. The apparel retailer recently launched its fourth Avirat\u00e9 brand store in Pune. The 1,400 sqft store was set up with an initial investment of Rs 50 lakhs. The Avirat\u00e9 brand positions its range in the premium segment, and competes with such brands as Mango, Zara and Forever New in the Indian market. <\/p>\n

As reported in the media, Avirat\u00e9 has already invested Rs 10 crore in its operations in India, in stores and stocks. In the next fiscal, the Company plans to invest another Rs 10 crore to open nine more company-owned stores across India. The next six months will see the launch of four more stores across Chennai, Delhi, Mumbai, and Chandigarh.<\/p>\n

The Timex Garments subsidiary, Avirat\u00e9 brand is one of the top five apparel manufacturers of Sri Lanka with sales revenues of Rs 1,200 crore (FY2012). The brand plans to enter international markets in Far East, West Asia and Australia in the next two years, with separate investments.<\/p>\n