By IANS,
Ahmedabad : City-based textile manufacturer Arvind Mills Ltd has changed its name to Arvind Ltd. The name change is effective from May 10, the company announced Monday.
When contacted, company secretary R.V. Bhinani said the new name reflects the the new business structure of the company which has a presence across the value chain in textiles.
A week ago, the Kholapur (Maharashtra)-based Abshiek Mills Ltd, a 100 percent export oriented company, also changed its name to Abshiek Corp Ltd as it had made forays into construction business.
Arvind Mills, the flagship company of the Lalbhai Group, started with a share capital of Rs.25.25 million in 1931.
Whenever the textile industry in the country faced crises, Arvind has come up with new strategies that helped the company overcome such crises and achieve better growth rate, the company said.
With the Indian economy booming, Arvind with its domestic brands like Flying Machine, Newport, Excalibur and Ruf & Tuf and international licenses of Lee, Wrangler, Arrow and Tommy Hilfiger is set to become the largest apparel brand company in India.