Raymond to mark 500 by Diwali

Raymond is all set to expand by increasing its total outlet stores to more than 500 by October. The company will open around 70 new stores prior to Diwali this year. All these outlets will be opened through the franchise route in smaller towns across the country. The 70 franchised stores will be opened in the class IV and V towns of Punjab, Haryana, Rajasthan, Orissa, Madya Pradesh, Gujarat and also in a few towns of South India. Anirudh Deshmukh, President, Retail and FMCG Raymond said, “Raymond has always given preference to open outlets in smaller towns where the population is less than five lakh and it will carry on its tradition. We already have around 100 outlets in the smaller towns.” Raymond is in full swing to open its outlets. The company recently opened four outlets in Gujarat in Bhuj, Gandhidham etc in a single day. Deshmukh said, “All the store launches were land mark events with the presence of renowned personalities and socialites.” To take up the franchise the franchisee needs to invest Rs. 40 lakh in total, an investment of Rs 20 lakh for the start-up and another Rs 20 lakh for the stock etc. Whereas the total area required opening a store in smaller town is about 1,000 to 1,500 sq. ft.