Raymond eyes Middle East for overseas push

Close on the heels of opening an office in Dubai to cater to its markets in the Middle East, renowned fabric brand Raymond has announced plans to further strengthen its presence in the West and South Asian countries as part of its overseas push.

"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 is also supplying fabrics to leading garments manufacturers in the US, Europe and Japan, Pokhriyal said.

The textiles division of Raymond contributes about 35% to the company’s overall revenues. In the last fiscal the division netted Rs 2,300 crore, which was expected to grow at 10% year-on-year.

Regarding the suiting business, Pokhriyal said it was showing single digit growth mainly due to the sluggish economic growth.

The eastern region is the biggest for Raymond in terms of sales, he said adding that the lion’s share of sales comes from the company’s retail outlets and multi-branded outlets.