Textile major Raymond will strengthen brand presence in the Middle East and South Asian countries as part of its overseas development programme.
“Our products get acceptance in 55 countries. Now we are aiming to make the brand Raymond even stronger in the Middle East and South Asia,” Sudhanshu Pokhriyal, president (suiting) Raymond Limited said. The company, he said, recently opened an office in Dubai, which would look after the middle eastern markets.
The company is also supplying fabrics to leading garments manufacturers in the US, Europe and Japan, Pokhriyal said.
About textiles division, he said, it was contributing about 35 per cent to the overall revenues. Pokhriyal said the division’s revenue in last fiscal was Rs 2,300 crore, which was expected to grow at 10 per cent year-on-year.
Regarding the suiting business, he said it was growing in single digit, which was mainly due to the sluggish economic growth.
The eastern region is the biggest for Raymond in terms of sales, the official said adding, largest portion of sales comes from the retail and multi-branded outlets.