Worlds Largest Family Lifestyle Brand Cherokee, now in Megamart

Arvind Limited, Indias largest integrated textile manufacturer and a leading branded apparel & retailer, operating across the entire value chain from design to fabric to brands has launched the worlds largest family lifestyle brand Cherokee in India

Mumbai, 25th September 2008 : Arvind Limited, Indias largest integrated textile manufacturer and a leading branded apparel & retailer, operating across the entire value chain from design to fabric to brands has launched the worlds largest family lifestyle brand Cherokee in India.

Brands that Cherokee Inc. owns and represents generate over $4 billion in annual retail sales worldwide. The company's principal focus is global 'retail direct' licensing. The Company has partnered with several of the best known retailers in the world including Target Stores, Tesco Plc, TJX Companies, Zellers (Hudson Bay Company) and Pick'n Pay among others in providing consumers with well understood brands, making them available on an exclusive basis with these retailers.

"We are very excited to have the opportunity to license the Cherokee brand for India. Cherokee is one of the fastest growing family brands worldwide and with our experience of working with international brands and knowledge of the Indian retail environment; we are confident that Cherokee will soon be one of the largest family lifestyle brands across India. Cherokee will be exclusively available at Megamart, Megamart is known for offering consumers big brands and big savings. Cherokee is a perfect fit in our portfolio of brands and strengths our consumer offer manifold," said Mr. J Suresh, CEO-Brands & Retail, Arvind Ltd.

According to Larry Sass, Executive Vice President & Managing Director Business Development, Cherokee Inc., "India is one of the fastest growing economies around the world. This provides Cherokee with tremendous growth potential. This relationship with Arvind & Megamart is a huge step towards our 'World Branding' objective. Arvind's track record and experience in building brands is tremendous and we are happy to partner with them".

"There is no better partner who understands both branding and retail as Arvind Ltd. Arvind, was the first company to bring leading international clothing brands to India and today their brand list and retail experience and expansion plans is impressive. Their Megamart Outlet Centres, their Megamart stores and their retail experience provides us the right model for success," said Mark Nawrocki, Executive Vice President & Managing Director Brand Development, Cherokee Inc.

ABOUT CHEROKEE INC.

Cherokee Inc., based in Van Nuys, is a marketer, licensor and manager of a variety of brands it owns (Cherokee, Sideout, Carole Little and others) and represents. Currently, Cherokee has licensing agreements in a number of categories, including family apparel, fashion accessories and footwear, as well as home furnishings and recreational products. Premier clients for the Cherokee brand around the world include Target Stores (U.S), Tesco (U.K., Ireland and certain other European and Asian countries), Zellers (Canada), Pick'nPay (South Africa), Fawaz Al Hokair (Middle East), Grupo Pao de Acucar (Brazil), S.A.C.I. Falabella (Chile and Peru) and Comercial Mexicana (Mexico). Premier clients for the Cherokee's Sideout brand include Mervyn's (U.S.) and Shanghai Bolderway (China), and for Cherokee's Carole Little brands include TJX Companies (U.S., Canada and Europe).

www.thecherokeegroup.com

ABOUT ARVIND LTD

Arvind Ltd. a global leader in the development and production of textiles, is India's largest integrated textile company and operates across the entire value chain from design to fabric to brands. Arvind was the first company in India to bring international brands when they brought Arrow to India. Arvind now has licensing relationships with many international brands like Arrow, GANT & US Polo. JV's with VF Corporation with brand portfolio of Lee, Wrangler, Nautica, Jansport, Kipling, Hero by Wrangler & Lee Riders, Tommy Hilfiger and most recently Arvind has tied up with Izod, U.S.Polo, GANT, Pierre Cardin, Hart Schaffner Max and Sansabelt to exclusively design, distribute and retail these brands in India. Arvind also own & operates India's largest 110 outlet strong value retail chain under the name 'Megamart'.

www.arvind.com

About Megamart

Megamart, a pioneer of the value-retailing concept in India, it arrived at a time when multi-brand discount outlets were still an unheard of phenomenon and changed the rules of the retailing business in India. By keeping overheads and other costs to a bare minimum, it was able to pass on maximum savings to customers. Today, Megamart is the largest player in this segment and has a network of 110 Megamart stores spread across 42 cities in India and a Megamart Outlet Centre in Chennai and Pune. The Bangalore store will be launched shortly. The Outlet Centre has on offer more than 150 of the top brands at fabulous discounts and offers throughout the year.

Megamart Backgrounder

Megamart was set up in 1994, and is a pioneer in value apparel retailing in India. A retail venture of Arvind Limited, Megamart arrived at a time when multi-brand discount outlets were still an unheard phenomenon and quickly changed the rules of the retailing business in India.

Megamart is today the largest player in value apparel retailing and has a network of 110 stores spread across 42 cities in the country. These stores which have an area of 2,000 to 4,000 sq ft and retails Lee, Wrangler, Arrow, Flying Machine, Newport, Excalibur, Ruggers, Elitus, Auburn Hill, Karigari, Edge, Colt and now Cherokee among others. Megamart is planning to set up another 40 stores this year.

Megamart also operates the large format 'Megamart Outlet Centre' in Chennai and Pune, and soon to open in Bangalore, The Outlet Centre is modeled on the innovative idea of grouping a large number of brands at the same location. The Megamart Outlet Centres, offer a wide range of over 150 top brands in a concentrated space at fabulous deals and prices everyday. These stores are anywhere between 30,000 to 60,000 sq ft. The Megamart Outlet Centre houses a select set of brands in apparel, personal electronics, luggage, footwear & accessories and even a food court. It brings in a great combination of international shopping experience at par with some of the best retail chains in the world. Megamart has aggressive expansion plans for its large format stores as well and plans to set up 25 to 30 such Megamart Outlet Center's in top 20 cities in the next 4 years.

For further information, please contact: Sonia Kulkarni / Sasikumar Ramanathan / Binny Jain, Adfactors Public Relations, 9820184099 / 9819732467 / 9819895666

Adfactors