Arvind Mills

Arvind Mills scrubs JV with Italy-based Diesel BV

Textile manufacturer, Arvind Mills and Italian apparel maker Diesel BV, have called off their joint venture from June 11, 2008 by mutual consent, for the distribution and branding of the Italian company’s products in India.

The joint venture "Diesel Fashion India Arvind Pvt. Ltd" agreement was signed on April 20, 2007. Diesel was holding 51% stake in the joint venture while the rest was held by Arvind Mills.

Arvind Mills declares 40 percent rise in Apparel Business

Arvind Mills announced the results for the quarter ending 31st December, 2007. The sales were higher by nearly 20% compared at Rs 537 crores to same quarter last year.

Company performed well in retail sector and branded apparel business. The sales for branded apparels grew by 40 percent. The company opened an exclusive store in Chennai on 23rd for current month to offer a wide range of products.