Raymond Aims To Double Its Turnover To 1000 Crore In 3-4 Years

Textile and apparel major Raymond is sharpening its focus on FMCG business as it plans to double turnover to Rs 1000 crore over the next three-four years. Raymond is present in the FMCG space through its subsidiary JK Helene Curtis, which makes the Park Avenue brand of men's grooming products. It was begun in 1964 as JK Ansell.

Raymond group had recently acquired Ansell's stake in the sexual wellness and personal care brand KamaSutra, from joint venture entity JK Ansell and expects to get regulatory approvals shortly.

Raymond chairman and managing director Gautam Singhania said “We are transforming the whole group. What has not been achieved in the past 50 years in the FMCG business (for the group), we want to achieve in less than five (years). One Park Avenue is another significant step that will strengthen our FMCG play both nationally and internationally, which is an important driver for value creation for us. Company will take the Park Avenue range of men's grooming products to global markets like West Asia, Bangladesh and Nepal to begin with and then to Sri Lanka, Bhutan and Myanmar in the second phase.

Raymond FMCG business chief executive Giriraj Bagri reiterated that the company expects to reach Rs 1,000 crore sales in the next three to four years.

The company had formed its FMCG Group in 2016 and its products reach 25 lakh retailers, including 90,000 pharmacies and also exports to Southeast Asia, West Asia and Africa.

The domestic men's grooming industry is estimated to be Rs 5,000 crore and Raymond. It also plans to evaluate opportunities in the women's segment in future.