Indian branded fabric manufacturer and apparel maker, ‘Raymond’ is investing Rs.150 crores in setting up a manufacturing facility in Amravati. The unit will be ready by April 2017. The company is planning to focus on the lifestyle business for growth.
The textile division of Raymond contributes about 35 per cent to overall revenues. The division’s revenue the last fiscal was Rs.2,300 crores, which is expected to grow at 10 per cent year-on-year. However, the suiting business is growing in single digits.
Eastern India is the biggest market for Raymond in terms of sales, and the largest portion of sales comes from retail outlets and multi-branded outlets.
The group was incorporated in 1925. Raymond goes to 55 countries and supplies fabrics to leading garments manufacturers in the US, Europe and Japan. Now the fabrics and garments firm will strengthen its brand presence in the Middle East and South Asia. The company recently opened an office in Dubai, which to focus on the Middle Eastern markets.
The Raymond group is vertically and horizontally integrated to provide customers total textile solutions. It has a diverse product range of nearly 20,000 varieties of worsted suitings to cater to customers across age groups, occasions and styles. It has fabric and apparel brands.
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