Raymond eyes having a network of 2K stores in India by 2021

Raymond, the fabric and fashion retailer, is targeting to have a retail network of around 2,000 stores across all its brands in the Indian market by 2021. Recently, the company launched its 1,000th Raymond branded store in Surat.

Raymond is looking at adding another 500 stores in the next two years, taking the total count to 1,500 branded stores across India. The company will open most of the new stores on the franchise model.

Presently, Raymond is operating a network of 1,500 stores across all the brands in 600 cities.

Sanjay Behl, CEO of Raymond's Lifestyle Business, said, “By 2021, Raymond would have a network of 2,000 stores.”

Apart from this, the brand is also aiming to expand in overseas markets. Raymond eyes to have 50 stores in Bangladesh and is further evaluating foraying into the US market.

“As we open our 1,000th store, Raymond as a company has become the largest branded fashion retail network in the country,” Behl stated.

Raymond is also operating 18 stores in Bangladesh, 4 stores in Nepal and around 10 stores in the Middle East and Pakistan.

Behl added, “Now we are looking big at some countries. We are looking to invest in neighbouring countries in Bangladesh. We have 18 shops there and we would invest there and in the next 12 to 18 months would probably have 50 shops.”