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Raymond to set up office in Malaysia for retail

19
Jul '10
Textile giant from India, Raymond Ltd, which finds Malaysia as an attractive investment destination and a gateway to South-East Asia (SEA), is intending to establish an office there to assist its regional retail business.

Moving forward, the company is planning to have a chain of stores and the same will require immense amount of training to be given to staff. Their plans are to hire domestic people and train them in Malaysia, rather than sending them to India for training.

Apart from having a booming retail industry, Malaysia is also one of the rapidly growing economies and therefore Raymond chose this destination as an entrance point for SEA. More over, the increasing Malaysian economy and the domestic Indian populace will further make it easier for the firm to enter SEA.

Raymond is intending to launch nearly 35 stores in SEA, and will be investing for the same RM 600,000 per outlet. The firm has already introduced its first, The Raymond Shop (TRS) in Malaysia last week, marking its entry in to the region's retail business.

This new outlet situated in Bangsar, offers a wide choice of men's apparel including ready-to-wear garments, made-to-measure apparels and accessories.

Currently, the firm has over 50 years of retail experience in India and has more than 500 TRS outlets in more than 15 cities across the Middle East, Bangladesh, Sri Lanka and Saudi Arabia.

Within the next three years, the firm intends to launch around 25 outlets domestically and three in Singapore. In fact the firm is planning to go together in Singapore and Indonesia. Within the coming 24 months, Raymond assertively said that, they will make their presence felt in Singapore with a target of around 3 – 4 outlets.

In the next five years or so, Raymond will also foray in to Thailand and China. However, in the immediate term, there were no chances of establishing any facilities in Malaysia. As of now, it will focus only in India, owing to easy availability of raw materials. Currently, Raymond has 18 international facilities.

Fibre2Fashion News Desk - India


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