Raymond aims enhanced growth for this fiscal

Mumbai, Dec 6 (UNI) Branded fabrics and apparel major Raymond today said it is aiming 20 per cent topline growth and 10 per cent export growth in the current fiscal.

Speaking to the mediapersons at its launch of new range of ''Raymond Finely Crafted Garments'' here today, the company's Group President Pradeep Bhandari said, ''we hope to record 20 per cent growth in total revenue this fiscal and aim 10 per cent growth in volume of export during the same period'' The company is also planning to open 30 new brand outlets across the country for its branded apparels and will invest about 40 crore for expansion of its Banglore-based manufacturing unit to meet the growth target.

Raymond's fabric business is growing by 10-15 per cent, while the apparel business has been witnessing 40 per cent growth year-on-year, he added.

Meanwhile, the company's Chairman and Managing Director Gautam Singhania said that Raymond has no plans to spin off its retail business into a separate business.

''We have over 400 retail stores now and we want to make it to 1,000 in the next three years,'' Singhania added.

UNI