Raymond to spread its wings in retail

Anticipating buoyant domestic demand, textile maker
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Anticipating buoyant domestic demand, textile maker and retailer, Raymond Ltd. is planning to
expand its footprints by opening around 100 retail outlets this fiscal.


Raymond shirting fabrics JV would be adding 10 mn meters per annum while planning to add
around 100 franchise outlets this year as it closes unprofitable stores and consolidates to turn
corner.


After detailed internal studies, the company is optimistic about the consumer sentiments and
looks positively on the demand side.


“Come winter season where we are taking in growth in excess of 17-18% in terms of bookings,
we expect the optimism to continue,” chief financial officer H Sunder said.


Raymond plans to open up to three-fourth of the new stores in non-metros and class IV and V
towns through franchise, in line with its strategy of cementing its footing in India’s hinterland.
Raymond also plans a Rs. 400 million expansion of its shirting fabrics joint venture with Italy’s
Gruppo Zambaiti, boosting capacity by 10 million meters a year at its Kohlapur unit to 22 million
meters.

 
 
 
 
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