Textile major Arvind Fashions is looking to return the licences of three foreign brands — Nautica, Aeropostale and Gant — because the sales of these brands failed to match the firm's expectations, Times of India reported, citing sources. The three brands have been a part of the company's portfolio for the last few years.

The firm is already in talks to shut down the exclusive stores of these brands, the sources told ET, adding that till the time the licence expires, the brands are likely to be available on Flipkart.

According to the ET sources, the talks between Arvind and Flipkart were initiated earlier this year and the deal is expected to be finalised in the next few months.

Arvind runs 28 global brands that are available across 1,300 stores.

The company, when approached by ET, declined to comment on the development, saying that it analyses the portfolio regularly and focuses on brands that create long-term value.

First Published:Mar 27, 2019 8:49 AM IST