Raymond Ltd, branded apparel and textile major is planning to open 100 retail stores in tier-IV and V cities like Bijapur, Mandya and Bellary in Karnataka, and Ahmednagar and Bhandara in Maharashtra by this year through franchising. The company had opened 76 franchise stores in 2009-10 with an investment of around Rs 25 crore.
Commenting at the venture, Raymond president (Retail & Business Development) Rakesh Pandey said that the revenues from these stores are expected to be around Rs 30 crore.
The branded apparel and textile major currently has approximately 10 lakh sq ft of retail space across 520-odd stores. Of these, around 60 are owned by the firm