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Raymond to add 100 new outlets in FY'12
29
Mar '11
Raymond, in order to boost its presence in the clothing retailing sphere, proposes to open 100 new outlets at a cost of Rs. 375 million in FY' 12.

Gautam Singhania, Chairman and Managing Director of the company said that, the company which presently has 700 outlets across its various brands, intends to add 100 more in fiscal 2011-12.

The official said that, the move was intended at strengthening the firm's foothold in the domestic market, particularly at a time when the international brands are looking ahead to penetrate in the country's apparel market, which is around Rs. 750 billion.

He further revealed that, as majority of the new stores would be on franchisee model, the company would not be required to invest a larger sum for expansion.

Shreyas Joshi, President Raymond (Apparels) said that, the expansion would require a spending of around Rs. 2,500 per square feet, with each of the outlet spread on an area of at least 1,500 square feet. Thus, the total expenditure for 100 stores is estimated to come to around Rs. 375 million.

Fibre2fashion News Desk - India

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