Home / Knowledge / News / Apparel/Garments / Raymond to slash capex by Rs 50 cr for 2017
Raymond to slash capex by Rs 50 cr for 2017
07
May '16
Courtesy: Raymond
Courtesy: Raymond
One of India's major fabric and fashion retailers, Raymond, is reducing its capital expenditure from Rs 300 crore in FY 2016 to Rs 250 crore this fiscal.

Most of the company's capital expenditure last year was towards capacity expansion, renovation of stores and capital machinery.

Raymond is seeking better margins and returns on capital next year after annual profits dived 18 per cent, from Rs 113 crore to Rs 92 crore., according to a newspaper report

Raymond had invested heavily in segments such as Made to Measure, store expansion and renovation, and it now wants to build scale across its retail formats.

That plan includes setting up 125 stores under the Raymond Shop brand, next year, according to Sanjay Behl, CEO-Lifestyle, Raymond.

The company is now seeking margin expansion and profitability for its branded apparel segment, where it has Park Avenue and ColorPlus as its leading brands.

Behl said the company is aiming to achieve scale in its ready-to-wear segment, and expects a margin of 10-12-per cent.

Raymond's largest apparel brand, Park Avenue, with revenues at Rs 500 crore, is also expected to expand its footprint from the current 65 exclusive stores. (SH)

Fibre2Fashion News Desk – India

Must ReadView All

Courtesy: Reliance Industries

Textiles | On 24th Apr 2017

Reliance’s FY17 revenue from petrochemicals up 12.2%

Increase in prices across polymers and polyester chain has...

Textiles | On 24th Apr 2017

India, Kazakhstan to increase cooperation in textiles

Indian and Kazakhstan are deliberating upon increasing cooperation in ...

Textiles | On 24th Apr 2017

GST reflects 'One nation, One aspiration' spirit: Modi

Prime Minister Narendra Modi has said that the Goods and Services Tax ...

Interviews View All

Kaizad Hansotia
GetNatty

Competition is the best thing that can happen to a startup

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli

‘The percentage share of printing in the global textile market is pretty...

Asim Dalal
Indo Count Retail Ventures

Today, there is no other emerging market as India, "we make in India and...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
April 2017

April 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search