Retail in Asia

In Sectors

Raymond to take franchisee route to open 100 stores across India

Indian retailer Raymond Ltd – valued at INR1,200-crore (INR12 billion, USD270.48 million) – is planning to open 100 retail stores through its franchisee network in tier IV and V cities like Bijapur, Mandya and Bellary in Karnataka, and Ahmednagar and Bhandara in Maharashtra, among others, in calendar year 2010.

In fiscal year 2009, Raymond operated with same-store-sales growth of 7 percent and closed its third quarter with a total income of INR375 crore (INR3.75 billion, USD84.53 million).

The Raymond Group has around 12 subsidiaries, out of which Raymond handles the textiles, engineering and aviation businesses. Other subsidiaries include Raymond Apparel Ltd, ColourPlus Fashion Ltd, EverBlue Apparel Ltd and Silver Spark Apparel.