The Lalbhai group's apparel firm Arvind Ltd has entered an agreement with the US-based HanesBrands Inc to sell its products including the celebrated Wonderbra brand lingerie in India.
Smelling an opportunity in the Rs. 18,000 crore lingerie and undergarments segment, Arvind aims to generate Rs. 500 crore revenues over the next four years from the partnership.
Wonderbra, one of the world's leading brands, is a type of push-up underwire brassiere that became popular in the 1990s. In 1994, Wonderbra extended its line to include other lingerie items. In most markets, the brand, owned by Hanes, emphasises sex appeal.
"We envisage the brands and the retail business to be a Rs. 5,000 crore business by 2018. This partnership will give us an edge to expand the Arvind portfolio," said Sanjay Lalbhai, chairman and MD, Arvind Limited.
Hanes, founded in 1901, is owned by HanesBrands Inc and markets brands such as Hanes and Wonderbra that cater to men, women and children.
Hanes entered India five years ago and has been struggling to find success in the country. Arvind plans to increase the current number of Hanes sales points from 5,000 to 15,000 in the next three years.