Raymond to add 100 franchised outlet by 2010

Raymond Ltd, a premier Indian textile major plans to launch 100 stores through franchising in the current fiscal year. These stores will be opened in the tier IV and V cities such as Bijapur, Mandya and Bellary in Karnataka, Ahmednagar and Bhandara in Maharashtra and few more cities.

The outlets of Raymond Ltd stocks exclusive brands of Raymond, which include ColorPlus, Park Avenue and Parx. The company is operating through 520 stores across the nation. Out of which, 450 are franchised and rest are company owned. Recently, the company launched a ‘made-to-measure’ store at Palladium, located in the famous Phoenix Mills mall in Mumbai. The store is a 500 sq. ft area, which mainly offers custom fits of garments.

The company has opened 76 franchised stores last year with an investment of around Rs 25 crore. This year, the company is expecting revenue of around Rs 30 crore from the proposed 100 franchised outlets. Apart of these 100 franchised outlets, the company is also aiming at opening about 300 stores across the country by end-March 2011 as part of Raymond’s expansion plans.