Acquisition of Debenhams signals the entry of Arvind into the Bridge to luxury department store segment, it added.
The brand plans to open about 40 franchise-operated Gap stores in India, the company said in a statement.
Arvind Ltd would pay $3.2 million to Ralph Lauren to settle a lawsuit the US-based luxury fashion house filed in 2013.
The demands from retailers are fourfold: One, allow kiranas, general trade stores, supermarkets, hypermarkets, and wholesalers to operate every day of the week till 9 pm. Two, ensure uniform and regular opening of all categories of retail. Three, hassle-free movement of goods and employees, and four, lift bans on malls in states like Maharashtra.
Like Diwali, Christmas is one of the crucial sale periods for retailers and most of the retailers saw 15-25 per cent like-to-like growth in pre-Diwali sales this year.
Feel the pinch of predatory pricing by e-tailers
The beauty queen turned actor talks about her new athleisure start-up.
Almost two years after it entered India, global fashion retailer Gap struggles to keep up with rivals Zara and H&M.
Malls, retail stores are being hit by online sales and are struggling this festive season.
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