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Raymond to open 100 new stores by year end
19
Apr '10
This year, Raymond Ltd, Rs 12 billion turnover company, through its franchisee network intends to launch 100 retail outlets in tier-IV and V cities like Bijapur, Mandya and Bellary in Karnataka, and Ahmednagar and Bhandara in Maharashtra.

The company incurred an investment of around Rs 250 million to set up over 76 franchisee stores during 2009-10.

At present, the branded apparel and textile major has 520 odd-stores spread over an area of around one million square feet, of which 60 are company held outlets while 450 are franchisee-owned.

'The Raymond Shop', exclusively displays Raymond brands like Color Plus, Park Avenue, Parx and others. Of the total sales of the company, 49 percent comes from retailing.

Rakesh Pandey, Raymond President, Retail and Business Development, said that, they expect the new 100 stores that they plan to establish this year would earn them revenue worth Rs 300 million.

The company recently inaugurated a 'made-to-measure' store at Palladium, situated at Phoenix Mills mall, Mumbai. The store spread over on an area of 500 square feet, primarily displays custom fit garments.

Raymond recorded a growth of seven percent during the 2009 fiscal on a same-store-sales basis and generated revenue totalling to Rs 3.75 billion during the third quarter of 2009-10.

Raymond Apparel Ltd, ColourPlus Fashion Ltd, EverBlue Apparel Ltd and Silver Spark Apparel are amongst its other subsidiaries. Gautam Singhania, CMD Raymond Ltd., had announced that, the company as part of its expansion strategy, intends to invest Rs 10 billion towards setting up of around 300 new stores across India by March 2011.

Fibre2Fashion News Desk - India

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