MOFSL backs Arvind Fashions, Campus Activewear with 33-40% upside on D2C and premiumisation bets
Motilal Oswal issues Buy ratings on Arvind Fashions (target Rs 620, 33% upside) citing the D2C-led Arvind 3.0 strategy and USPA traction, and on Campus Activewear (target Rs 325, 40% upside) on ASP growth, premiumisation and expansion into sneakers, women's and kids categories. Brokerage models 13% revenue CAGR and 155bp Ebitda margin expansion over FY26-28.
What happened
MOFSL issues Buy ratings on Arvind Fashions (Rs 620, 33% upside) citing D2C-led Arvind 3.0 strategy and USPA traction, and Campus Activewear (Rs 325, 40%
Key facts
- Target Rs 620 (33% upside) Arvind Fashions
- Target Rs 325 (40% upside) Campus
- 34x FY27E earnings
- 13% revenue CAGR FY26-28
- 155bp Ebitda margin expansion
Why this matters
MOFSL's conviction on D2C-led Arvind and ASP-driven Campus signals that brands with direct channel depth and adjacency expansion (sneakers, women's, kids) are becoming the prized M&A and partnership targets in Indian apparel.