One of America's largest-selling designer shirt brands, Geoffrey Beene, will partner Arvind Ltd's discount apparel chain Megamart. The licensing agreement comes less than six months after Megamart signed up with Nasdaq-listed Iconix Brand Group's youth brand Mossimo.
Megamart is the Rs 400-crore retail subsidiary of textile firm Arvind Ltd. The maker of Arrow, US Polo and Energie lifestyle brands in India, operates around 200 Megamart outlets. It will expand this to 250 brands this fiscal.
"We wanted to bring in a new set of customers who are keen on aspirational brands. At the same time, it will help us increase loyalty within the existing set to capture downtrading customers in an inflationary environment," J Suresh, MD and CEO of Arvind Lifestyle Brands Retail, said.
Geoffrey Beene, a maverick American designer who burst into the fashion scene in the '60s, was known to challenge prevailing trends with innovative styles. He did it again by trading profits for philanthropy. Although Beene passed away in 2004 he is survived by products that sport the Geoffrey Beene Gives Back (GBGB) logo, translated as the brand's net profits will be donated to charity. For Megamart, Geoffrey Beene will bring to its portfolio international menswear formals to blend in with American family brand Cherokee, which clocked sales of.`70 crore last fiscal. Mossimo, which is targeting an August launch in India, will instead work on increasing Megamart's franchise with the youth through apparel, fragrances and footwear.
"We now need an international performance sportswear brand to complete the offering," Suresh added. Other value fashion retailers in India either retail in-house brands or factory seconds of national brands. Arvind's Lifestyle Brands division has also been one of the fastest among its peers to rope in international brands.
Such a big expansion of Geoffrey Beene is an added advantage to the signage companies engaging in in-shop signage/displays.