'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.
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.