Home / Knowledge / News / Apparel/Garments / Raymond loses interest in Bangalore investments

Raymond loses interest in Bangalore investments

25
May '06
Bangalore's positioning as centre for apparel manufacturing and sourcing for some of the world's biggest brands in post-quota world scenario has encountered a setback, as textile major, Raymond is having second thoughts on investments there.

Raymond's intention to withdraw from Karnataka, and especially Bangalore, is due to Bangalore's sagging infrastructure facilities, as per Gautam Singhania, Chairman and Managing Director, Raymond.

Raymond is of the view that state Government has been unable to provide basic amenities at the Apparel Park at Dodballapur and the company had to incur expenditure for setting up basic amenities.

The company planned to establish apparel manufacturing facilities for suits, trousers and denim at Dodballapur and at Hoskote for shirts.

Investment was entailed around Rs100-140 crore with the two projects expected to generate nearly 4,000 jobs.

Raymond had also planned to invest in fabric and apparel at Karnataka's Hasan centre.

It is now eyeing centres such as Vapi, Kolhapur and Jalgaon, sources reveal.


Must ReadView All

Pic: Shutterstock

Textiles | On 1st Mar 2021

AfCFTA rules of origin talks to conclude in June: Egyptian

Talks are currently under way between member states of the African...

Pic: Fraser Group

Retail | On 1st Mar 2021

Frasers Group anticipates £100-mn hit from lockdown

Frasers Group recently said it could take a hit in excess of £100...

Pic: Shutterstock

Retail | On 1st Mar 2021

TJX Companies FY21 sales fall 4% to $32 bn

The TJX Companies, a US-based leading off-price apparel and home...

Interviews View All

Varinder Singh Jawanda, Trendy Bharat

Varinder Singh Jawanda
Trendy Bharat

Sizing and fitting issues are inherent problems for companies expanding...

Textile Industry, Head honchos

Textile Industry
Head honchos

Marry craft and utility

Textile Industry, Head honchos

Textile Industry
Head honchos

Wearables have very limited reach

Angelo Leung,

Angelo Leung

Guangdong Asiatex Textiles provides international and domestic apparel...

Harsh Shah,

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Mark Tokuhara,

Mark Tokuhara

Japan-based FitJoy, a shoe brand for women, has been in the footwear...

Madison Maxey, Loomia

Madison Maxey
Loomia

Loomia designs and manufactures soft circuit systems that can be produced...

Andreas Lukas, Andritz Nonwoven

Andreas Lukas
Andritz Nonwoven

With forces in engineering and process development, Andritz Nonwoven...

Shujaul Rehman, Garware Technical Fibres

Shujaul Rehman
Garware Technical Fibres

Garware Technical Fibres Ltd (formerly Garware-Wall Ropes Ltd) is a...

Aditi Somani, Aditi Somani

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Akta Adani, India Boulevard

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

Sidharth Sinha, Sidharth Sinha

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

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

Leave your Comments


February 2021

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


Advanced Search