Raymond Invests ₹200 Crore to Boost Garment Manufacturing Capacity
Raymond Limited, a leading Indian textile company, announces a significant investment of ₹200 crore to expand its apparel and garment manufacturing capacity.
Raymond LimitedGarment ManufacturingChina Plus One StrategyMake In India InitiativeIndian Textile IndustryReal Estate NewsJun 15, 2024
Gautam Hari Singhania, Chairman & Managing Director of Raymond Limited, expressed satisfaction with the company’s performance across its various business segments. “I am satisfied with the performance across businesses, and they have demonstrated consistent growth throughout the year. Our Lifestyle business showed strong perseverance and recorded growth despite headwinds and muted consumer demand. For our Real Estate business, we have maintained strong booking momentum, particularly with the launch of our first JDA project in Bandra, Mumbai. We remain committed to delivering value to stakeholders and are confident in our ability to capitalize on growth opportunities, ensuring sustained success in the future. We have our three verticals – Lifestyle, Real Estate & Engineering – that are future growth engines, which is in line with India’s vision of Viksit Bharat,” said Singhania.
During fiscal ’24, Raymond focused on expanding its distribution reach by opening over 200 new stores. The company also emphasized premiumization and casualization, leading to robust growth in its Branded Apparel segment, which achieved a 20% increase compared to the previous year despite a weaker retail industry. This new investment underscores Raymond’s commitment to innovation and growth, reinforcing its position as a leading player in the global apparel industry.
Information Raymond Limited is a leading Indian textile company with a diverse portfolio of businesses, including fabric, garment, and fashion. The company has a rich history of over 90 years and is known for its high-quality products and innovative designs.
Raymond Limited is a leading Indian textile company with a diverse portfolio of businesses, including fabric, garment, and fashion. The company has a rich history of over 90 years and is known for its high-quality products and innovative designs.
Frequently Asked Questions
What is the investment amount announced by Raymond Limited?
₹200 crore
What is the purpose of this investment?
To expand Raymond's apparel and garment manufacturing capacity
What is the global strategy aligned with this expansion?
The 'China Plus One' strategy adopted by many international brands
What is Raymond's aspiration with this investment?
To become the world's third-largest suit maker
What is the revenue achieved by Raymond Limited in the current fiscal year?
₹9,286 crore
Tags:
Related News Articles
China Boosts Property Market with $562 Billion in Credit and Housing Renovations
China unveils a major support package to inject $562 billion into the property market and renovate a million homes, aiming to revive economic growth and address housing issues.
Danube Properties Expands to Abu Dhabi and Ras Al-Khaimah, Eyes Mumbai Market
Danube Group, a leading UAE-based real estate developer, is set to expand its presence to Abu Dhabi and Ras Al-Khaimah, driven by interest from Indian investors.
Gruhas and Brigade Group Launch Rs 300 Crore Fund for Real Estate Startups
The SEBI-registered Category II Alternative Investment Fund (AIF) aims to support pre-series A and series A stage startups in the real estate sector, addressing the growing need for innovation in the industry.
Investors Losing Appetite for Real Estate: Morgan Stanley Report Reveals
Morgan Stanley report highlights decline in investors' interest in real estate. Find out the reasons behind this trend.
Rustomjee Group's Dr. Rakesh Setia on the Future-Ready Real Estate in India
Since its inception in 1996, Rustomjee Group has been a prominent player in Mumbai's real estate sector, with a portfolio spanning residential, commercial, and industrial projects. Dr. Rakesh Setia, the visionary leader, shares insights on how the company
Indian Stock Market Faces Sharp Decline as Various Sectors Take a Hit
The Indian stock market witnessed a significant plunge of over 1% today, driven by mixed economic cues. Key sectors such as real estate, public sector banks, metals, auto, and pharma experienced substantial declines, with the real estate sector being the