Raymond Plans 50 Stores

Business Standard:

Apparel maker and retailer Raymond is zeroing in on smaller cities with less than 1 million population for expansion in a bid to avoid being crowded out and take advantage of lower real estate cost.

The company plans to open 50 stores, mostly franchisee, in smaller cities by the end of current financial year, a top company official said today.

“We see good business opportunity in smaller cities. We have large assortment of products such as fabrics, readymade garments to cater to the demand of the population there,” said Aniruddha Deshmukh, president, retail and FMCG, Raymond.