The 80 year old brand name in textiles, Raymond has for the first time entered the branded readymade garment sector. Raymond FCG, which stands for Finely Crafted Garments, is the name of the new range of the readymade garments. Raymond has been associated with the finest in styling and fashion and is the leading name in menswear. With the introduction of ready made garments, Raymond is all set to increase its fan base.
The new readymade brand is said to garner a revenue of around Rs. 100 crore in a couple of years. Raymond has over 60% market share in the Indian suiting market and a capacity 33 million meters of wool and wool-blended fabrics. There is an expectation in the growth of revenue by 20% and the exports by 10% in this year. The company had a turnover of Rs. 1284 crores in the end of fiscal year March 2007. Raymond has no plans to spin off its retail business into a separate business as of now or in near future.
Raymond owns popular menswear brands like Park Avenue, Parx, Manzoni, and Colorplus. With its new readymade garments range, Raymond is all set to get a stronger foothold in India and reach out to audience in a better way. Raymond also sells and manufactures fabrics, besides selling branded garments for men and women. The fabric business is having a growth rate of about 10-15% and the apparel business is having a growth rate of around 40% per year. The number of retail stores is also expected to increase from 400 to 1000 in the next three years.
