Arvind Mills to open 100 Megamart stores in India

With an aim to enhance its focus on tier-II cities, Arvind Mills plans to open nearly 100 Megamart stores in the country in the next five years. Apparel discount chain Megamart, the speciality retail business of Ahmedabad-based Arvind Mills, currently has 54 outlets in 16 cities, with footfalls in excess of 1.5 lakh consumers per month. "In the next five years, we want to expand from 16 cities to 100 cities, and from 54 stores to 150 stores," Arvind Brands chief operating officer J Suresh said. "We have a fairly aggressive expansion plans," he said. Meanwhile, Megamart on Tuesday joined hands with ICICI Bank to launch a cobranded credit card. It is a gold card with features like multiple reward points scheme. These reward points can be redeemed against Megamart vouchers.