Raymond to enter new segments, scale up production capacity

By

Maverick Martins

Published
May 16, 2019

Raymond Limited is looking to enter new segments like ethnic wear and women’s workwear this year to strengthen its market position in the country’s apparel market.
 

The company has earmarked an investment of Rs 250 crore ($35.6 million) for this financial year on expansion of its product portfolio.
 
Raymond will also scale up its garment production capacity and plans to invest in states like Andhra Pradesh, Telangana, and Jharkhand. The production units are expected to create around 5,000 job opportunities per state.

“The company has lined up a capital expenditure of Rs 250 crore for this financial year and entering into new segments such as ethnic wear through khadi brand and women’s workwear. The company recently completed a project to produce 4.2 million metres linen fabric per year in Amravati,” Sanjay Behl, chief executive officer of Raymond told the BusinessLine.
 
“I am actively evaluating Telangana and Andhra Pradesh for garmenting. Jharkhand offers an attractive incentive for garmenting industry and a few competitors have moved in and Raymond is also evaluating it,” he added.
 
Raymond had posted strong results for the fiscal year 2018-19 with net profit rising 23 percent at Rs 175 crore while the total revenue of the company for the year stood at Rs 6,707 crore.