Bangalore, Feb 26 (IANS): Arvind Goodhill Suit Manufacturing Ltd., a joint venture of Arvind Ltd. and Goodhill Corporation of Japan, Wednesday launched formal suits produced at its greenfield facility on the city's outskirts.

"We have entered the worsted segment and suits manufacturing to expand our product portfolio and offer a complete vertical segment in the garmenting space, including jeans and casuals," Arvind executive director Kulin Lalbhai told reporters here.

The Rs.45-crore state-of-the-art facility has an installed capacity to roll out 350,000 jackets and 600,000 pairs of trousers annually, with design and process technology from Goodhill suits manufacturing plant in Japan.

"We are targeting Rs.100-crore revenue in the first year of operation by positioning the product (suits) in the premium segment," Lalbai said on the occasion.

As one of the largest integrated textile and apparels firm with a major presence in the retail segment, the Ahmedabad-based Arvind Ltd. owns a range of licensed brands, including the popular Flying Machine, Colt, Ruggers and Excalibur.

The company's own seven production units across the city produces six million pieces of jeans and four million pieces of shirts annually for domestic and overseas markets under its marquee brands.

"With diverse culture and large population base, India offers immense growth potential for suiting business. As joint venture partner, we will have the advantage of Arvind's wide retail network presence across the country to foray into the upmarket segment," Goodhill president Hideki Yoshioka said on the occasion.

As one of the world's leading suits manufacturing firm, the 54-year-old Goodhill has four factories across Japan and one in China, with 40 percent market share in customised clothing.