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India's Raymond opens first outlet in Pakistan
Jun '13
Raymond, an Indian firm that specializes in suiting and shirting, has opened its store in Karachi, the financial hub of neighbouring Pakistan.
The opening of Raymond outlet in Pakistan may pave way for more Indian brands to open their shops in Pakistani market, according to Najmus Saqib, a director of NexSource, which has acquired the rights to run the Raymond shop in Pakistan.
Mr. Saqib said he sees the opening of a Raymond outlet as a small step towards more free trade between the two neighbours, Business Standard reported quoting PTI.
The opening of the Raymond outlet in Karachi was a positive sign for trade and business between the two nations, according to Amin Hashwani, president of the Pakistan India Business Forum.
He said the opening of outlets by Indian brands should not come as a surprise as Indian films are very popular in Karachi.
Raymond already has around 40 international outlets and NexSource is planning to open Raymond shops in Islamabad, Faisalabad and Lahore by 2013-end.
With over 60% market share in India, Raymond Ltd. is one of the largest integrated manufacturer of worsted fabric in the world.

Fibre2fashion News Desk - India

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