Raymond plans to open more brand stores pan India

Retail

Raymond plans to open more brand stores pan India

by Shubhangi Bidwe
15 Oct 2019

Raymond plans to have 1,500 branded stores across India in the next two years. As of now there are 1000 such stores. Most of the new Raymond stores will be opened through franchises. Raymond currently operates a network of 1,500 stores across all the brands in 600 cities. Of these 1,500 stores, 1000 are Raymond stores and rest are from other brands which include Park Avenue, Color Plus and Parx. The average size of a Raymond store is around 2000 sq feet, but the company has opened 300 mini TRS (The Raymond Shop) in the last 18 months with sizes ranging between 800 sq ft to 1200 sq feet. Most of the expansion is happening in Tier IV, V and VI, where Raymond has close to 550 stores.

The iconic brand, with a legacy spanning over 90 years, started its retail journey in 1958 by opening its first shop in Mumbai. Raymond has the largest branded fashion retail network in the country. Raymond also operates 18 stores in Bangladesh, four stores in Nepal and around ten stores in the Middle East and Pakistan. It plans to have 50 stores in Bangladesh, where it is investing substantially, and is also evaluating entering the US market.