The Indian fashion retailer Arvind Fashions is discussing the potential sale of two denim labels to prospective buyer Reliance Retail.
The two brands – Newport and Ruf & Tuff – would mark a further reduction to Arvind’s brand portfolio, which may also see the departure of its Unlimited department stores should talks with value retailer V-Mart end in an agreement to pick up the business. Such a deal may have been closed last March had it not been for the advent of the coronavirus pandemic.
Arvind has already shaken off the Indian rights to the low-performing Izod, Gant, Nautica and Ed Hardy brands, while retaining profitable US Polo, Gap, Aeropostale and Flying Machine labels, among others.
Arvind Fashions filed a consolidated net loss of $US27.64M in the first quarter of this year, after a profit of $US2.83M for the same period last year.
