Raymond to expand in tier IV and V cities

Raymond Ltd, a leading textile maker and retailer, plans to open 100 retail outlets by the end of this fiscal year, confirms a company’s official. The company is looking at opening up to three-fourth of the new stores in non-metros and tier IV and V towns through franchise route.

Presently, the company is operating through more than 400 franchised stores across the nation. Further, it plans Rs 400 million expansions of its shirting fabrics in a joint venture with Italy’s Gruppo Zambaiti, boosting its capacity from 10 million meters to 22 million meters a year at its Kohlapur unit.