Arvind Mills plans rejig to tide over forex loss
However, according to the company’s director Jayesh Shah the recast plans has nothing to do with the appreciating currency.
“We have taken up restructuring exercise. But it is not a move to address the rupee appreciation. We were to do this almost a year back, but it had been done now. With this restructuring, now the SBUs will be merged and will directly come under two divisions — one is fabric and the other is apparel.”
While industry experts say that with the merger, the Arvind Mills plans to downsize its workforce, the company claimed that the restructuring its operations would help it further strengthen the customer focus.
