Raymond registers six per cent rise in Q2 revenue

Raymond has clocked in a six per cent increase in revenue for the second quarter. The textile and apparel maker completed the first half of the current financial year with a strong profitable growth. Overall, with business transformation including profitable growth in branded apparel in progress, Raymond remains focused on shareholder value creation. The company closed the second quarter with a store count of 1142 across all formats including 49 stores in the Middle East and the SAARC region. Raymond is looking to expand its retail presence to about 1,500 stores by 2020 and will open 150 to 200 stores this year. It has earmarked an investment of Rs 150 crores towards retail expansion this year.

Raymond brands include: Raymond (ready to wear), Raymond Made to Measure, Color Plus, Park Avenue and Parx. It has also tied up with the Khadi and Village Industries Commission and launched its branded Khadi by Raymond to promote the fabric globally. It is building capability in finishing, design, and distribution for khadi and investing step by step.

The company is setting up a large suiting manufacturing plant in Ethiopia in Africa that will be operational this year and has also undertaken a significant expansion in Amravati in Maharashtra for cotton fabric.