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    Raymond

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    Rushil

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    Raymond

    Uploaded by

    Rushil
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    raymond

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    6 views1 page

    Raymond

    Uploaded by

    Rushil

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 1

    Raymond, the company best known for selling branded textile for men’s suits, plans

    to increase its exports four-fold in the next five years to seek growth as the
    domestic market faces a relative slowdown. In the past couple of years, the Gautam
    Hari Singhania-promoted company has been doing so by launching new products
    such as low-cost poly-viscose fabric for consumers in tier-3 to tier-5 towns under
    Makers brand and innovative products such as ultraviolet-resistant fabric Royal
    Magic for high-end consumers in metros and big cities. While it continues such
    effort for growing the domestic market, it also plans to focus on exporting men’s
    suits and jackets in the US, Europe and Japan to grow rapidly. According to the
    company’s estimates, India now exports $40 billion worth of textile (about Rs 2 lakh
    crore) in a year. Raymond’s export revenue in 2012-13 from businesses including
    garment, textile and denim was just about Rs 250 crore. Raymond is already present
    across India through its 1,000 stores spread across brands such as Raymond, Color
    Plus and Park Avenue in tier-1 to tier-5 towns. However, it will need to continue
    investing to ensure its presence in upcoming shopping malls to get captive
    customers. During a recent media interaction, Gautam Hari Singhania,
    Chairman & MD, Raymond Group, highlighted, out of the 55 countries across
    five continents where they supply products, the US accounts for 30 per cent of
    the total supply, while Europe and Japan account for 25 per cent and 20 per
    cent respectively. Exports account for 15 per cent of the overall revenue. .
    Going strongly with ‘Make in India’ initiative, the company is planning
    capacity expansion in Kolhapur and Yawatmal units. Additionally, it is also
    setting up a greenfield textile project in Amaravati. The idea behind setting up
    a garments unit in Ethiopia, the fastest growing and stable economy in the
    African continent, is to mitigate export risks.

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