Raymond's target RS 1200 crores revenue

Kolkata, May 15 (UNI) Raymond Limited will expand its retail network to 1000 by 2010 with 45 overseas outlets targetting around Rs 1200 crore revenues from this expansion.

Speaking on the sidelines of a press conference here today, Raymond Ltd President(Retail&FMCG) Aniruddha Deshmukh said the number of overseas stores would increase from 28 to 45. ''We want to focus on markets like middle East, Sri Lanka, Bangladesh and Nepal.

The company would open three categories of stores--exclusive retail outlet, international stores and Raymond shops.

Last year the network turnover was Rs 640 crore. Currently the number of retail stores is 350.

'' We will expand our presence to smaller towns as well. Out of the total network, 76 would be opened in smaller cities,'' he said.

The company's market share in fabric business stands at 60 per cent.

'' We will also double the area of the retail outlet from one million to two million square feet, he added.

Raymond has major Park Avenue, Parx, Manzoni and ColorPlus.

UNI