'The complete man' Raymonds to dress women now!
Staff Reporter, Economic Times, 5 Sep 2007
NEW DELHI: Leading apparel manufacturer Raymond Ltd, which forayed into the premium women western-wear market with the launch of ColorPlus Women on Wednesday, has earmarked investments of Rs 400-500 crore in the current year for capacity expansion.
"We would be investing Rs 400-500 crore in the current year on manufacturing and retailing," Raymond Chairman and Managing Director Gautam Hari Singhania told reporters here.
He said the company had plans to increase the number of its outlets across the country to 1,000 from about 430 at present in the next three years.
Aiming for a share in the Rs 800-crore premium women western-wear market, Raymond launched the ColorPlus Women range of apparels which would be available through 175 points of sale in the next three years.
The company expects revenues to the tune of Rs 150 crore from this segment in the next two-three years. The ColorPlus Women range would include day-wear, sports wear, business wear as well as formal wear.
"ColorPlus Women will vie for a significant part of the Rs 800 crore premium western womens wear market, which is growing at 20 per cent annually," Singhania said.
By the end of the year, Raymond is looking to open five exclusive ColorPlus Women stores as well as 12 lifestyle stores. The brand would be launched in Delhi, Mumbai, Kolkata, Chennai, Bangalore, Hyderabad, Pune and Ahmedabad.
Singhania said Raymond is also mulling introducing a kids wear range under the ColorPlus brand in one year.
Source : 'The complete man' Raymonds to dress women now! article on EconomicTimes.com
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