Raymond to open 200 stores in next 18 months

Apparel major Raymond plans to open over 200 stores across the country in the next one and half years to grow its business.

"We have opened 100 stores in the last three months and plans to open 200 plus stores in the next 18 months" Raymond Ltd Chairman and Managing Director Gautam Hari Singhania told PTI.

"We recently entered into Tier 3/4/5 cities and towns with our iconic brands. This will play out to further consolidate our end-to-end leadership position in the industry," he said.

The Mumbai-based Raymond is the world's third-largest maker of worsted fabric, used in making men's suits, has at present, about 600 outlets across the country.

"We are bullish on the long term Indian consumption story and we believe in creating markets," he said.

Asked about foraying into real estate business, Singhania said, the company is planning to develop 18 acre surplus land to develop affordable residential property in Thane Maharashtra in the first phase.

Raymond's Thane unit covers an area of 160 acres, which also has a school and a hospital in it.

"Depending on the response to this project, we will decide our future strategy for the real estate business," he said.

EDITORIAL OF THE DAY

  • Public musn’t pay for domestic servants for our diplomats

    Nothing seems to have changed in the year and half since the fur that flew thick and fast over the case of diplomat Debjani Khobragade and her maid Sa

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

TODAY'S COLUMNS

Urs Schoettli

Economic integration in east Asia

As trade agreements within a global framework have become increasingly ...

Rajgopal Nidamboor

Up the ante of your conscious existence

It sounds cryptic, but is not as complex as it ...

Gautam Gupta

The ‘fake’ issue needs to be taken seriously

E-commerce players are witnessing unbelievable growth globally. Competition is increasing ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture