Raymond On Expansion Spree

Branded apparel maker Raymond plans to open 30 stand alone readymade garment stores over the next three years. The company is targeting revenue of over Rs 100 crore from the segment and it has already invested Rs 40 crore to expand its Bangalore facility to cater to readymade garment demand. With the way readymde garment demand is growing we are expanding our facility in Bangalore to make suits and jackets. Raymond has been aggressively expanding in the retail space with plans to almost treble the number of exclusive outlets to over 1000 stores over the next three to five years. Retail currently contributes almost 30 per cent of its overall revenues now and the company says the retail pie is only going to get bigger.Raymond is now truly getting into retail betting its own fabric on the retail shelves, and so far they have done well.