From fashion to real estate, Arvind Limited has been on a transformational journey for over a century. As the fifth generation runs the show, it is expanding into newer terrains and eyeing infinite possibilities
(Left to right) Punit Lalbhai, vice chairman and executive director; Sanjay Lalbhai, chairman and MD; Kulin Lalbhai, vice chairman and non-executive director; Arvind Ltd
Image: Mexy Xavier
In the heart of Ahmedabad, right next to industrialist Ambalal Sarabhai’s abode, stands Lalbhai Dalpatbhai’s 118-year-old mansion, Lalbaug. As we enter the colonial house built in 1905, historical artifacts—some of which are personal favourites and others retain the essence of the family home—catch our eye. Industrialist and one of the first-generation textile mill owners, Dalpatbhai laid the foundation of Lalbaug—today known as the Kasturbhai Lalbhai Museum, named after his son, who spent all his life in the house.
The second-generation entrepreneur and founder of textile company Arvind Limited was passionate about art and education. At 17, after his father’s death, Kasturbhai had to drop out of school and take over the mantle of running the business. This made him an avid reader—the collection of books in his library ranges from economics to literature and politics, and more. He also set up some of the premier educational and research institutions, including the Indian Institute of Management-Ahmedabad (IIM-A), along with his confidant and neighbour Vikram Sarabhai. Setting up the museum was the brainchild of fourth-generation scion Sanjay Lalbhai and his wife Jayshree. They wanted to keep the family legacy alive and pay tribute to their grandfather.
The ancestral property also has an upcoming indigo museum, curated by the denim king, who has played a pivotal role in making Arvind Limited a force to reckon with in the textiles sector. The business was going through a turmoil when Sanjay, son of Shrenik Lalbhai, joined the company in 1977. The power loom sector challenged big mills by edging labour laws and manufacturing standards to make cheaper garments. This led him to manufacture denims in-house, a breakthrough during those years.
Flying Machine became India’s first denim apparel brand. “If you’re an entrepreneur, you have to reinvent the company many times. When I joined, the company had existential problems. So, I had to reinvent the business and do a major surgery,” he tells Forbes India, sitting in one of their oldest mills in Naroda, Ahmedabad.
Again, with changing times and a cluttered market, denim is no longer Arvind’s mainstay. The company’s 92-year-old journey is a narrative of both opportunities and obstructions, and each generation has managed to build enduring businesses despite the constantly changing economic landscape. New businesses have been incubated throughout the history of Arvind, which continues till today with the fifth generation at the helm. After stepping away from main business operations, the 69-year-old patriarch passed the baton to sons Punit and Kulin.