Raymond will invest Rs 350 crore in capacity and retail expansion this year. Of Rs 350 crore, Rs 200 crore will be allocated to manufacturing expansion, both in India and offshore, while Rs 150 crore will go towards retail expansion.
The company is setting up a large suiting manufacturing plant in Ethiopia in Africa that will be operational this year and has also undertaken a significant expansion in Amravati in Maharashtra for cotton fabric. The company is also looking to expand its retail presence to about 1,500 stores by 2020.
Raymond is one of India’s largest branded fabric and fashion retailers. It is one of the leading, integrated producers of suiting fabric in the world. Its brands include Raymond (ready to wear), Raymond Made to Measure, Color Plus, Park Avenue and Parx.