Raymond opens its 200th Mini TRS in Bengaluru
today Nov 6, 2018
India’s leading textile and apparel player Raymond Ltd has opened its landmark 200th ‘Mini’ TRS (The Raymond Shop) in Hoskote, Bengaluru.
The company has reached the store count of 200 for TRS in just over 18 months as it had launched its first Mini TRS in March 2017, at Bihta, Bihar.
Raymond is looking to tap the Tier IV, V and VI towns with its TRS stores by engaging customers with an immersive shopping experience through these smaller but smarter store formats.
Commenting on the store launch, Sanjay Behl, CEO, Lifestyle, Raymond in a statement said, “We believe that experiential shopping for fabric and apparel coupled with custom tailoring and fashion advisory service, will always be in vogue. While the world is moving to a more virtual shopping experience by the day, Raymond is still committed to providing its customers physical retail touch-points closer to their home that enhances experiential shopping.”
Mohit Dhanjal, Director-Retail, Raymond Limited, added, “With this new business model we have rolled out 200 stores in the past 80 weeks – the fastest retail store rollout in men’s fashion and lifestyle category.”
Raymond Ltd had posted a consolidated net profit to Rs 65 crore ($9 million) for the second quarter ended September 2018, with a revenue of Rs 1,876 crore.
Raymond is planning to open up around 60 mini Raymond stores across the country with an investment of around Rs 30 crore this fiscal and expects the stores to generate revenues up to Rs 60 crore per annum.
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