Yet another generational shift is taking place at Arvind, one of India's largest textile players, as the fourth-generation Lalbhai has joined the group. In what could be an indicator of things to come, Punit Lalbhai, son of chairman and managing director Sanjay Lalbhai, is being appointed as the chief manager of the project division.
'Financial independence will help unlock the full potential of these businesses.'
Acquisition of Debenhams signals the entry of Arvind into the Bridge to luxury department store segment, it added.
Amit Pagnis hit 142 and added 222 runs for the second wicket with Jyoti Yadav to help Central Zone post 299 for 3.
Buoyed by the success of e-commerce players like Jabongand Myntra, textile companies like Arvind Ltd, TT Ltd and Creative Lifestyles, among others are exploring the online market through their own e-commerce platforms.