New Delhi: Raymond is expanding its manufacturing capacity by a third, which will make it the world's third-largest suit maker and help capitalize on China's plus one strategy in the global market.
The company, which includes women's tailoring and high-value casual and hybrid clothing, will expand the product range to new markets and is working on customer acquisition.
"The China+1 strategy is working in our favor, generating stronger business relationships with existing customers and presenting multiple opportunities for new markets and customer acquisition," says Raymond's latest annual report.
This also aligns perfectly with the government's Make in India initiative, said Chairman and Managing Director Gautam Hari Singhania addressing the company's shareholders.
"As India remains a preferred sourcing destination, the China plus one strategy is playing its role," he said, adding that Raymond is expanding its manufacturing capacity by one-third of its current level.
When the expanded capacity is fully operational, Raymond will become the world's third largest suit manufacturer, Singhania added.
This expansion not only strengthens Raymond's global presence but also boosts domestic manufacturing capabilities, said its chief financial officer Amit Agarwal.
Raymond's apparel unit is a private label manufacturer and integrated supplier of high-value apparel to leading international brands.
The segment, which had a revenue of Rs 1,139 crore in FY24, mainly exports to the US, Europe and Japan. To this, exports contributed 95 percent.
Its tailoring facilities produce a variety of men's clothing, including suits, jackets, jackets, pants, denim and shirts.
Raymond expects "strong demand" for higher value apparel categories such as jackets, pants and formal shirts.
"High demand from the US, UK and European markets through efficient supply chain management and expansion of line capacity at Indian and Ethiopian facilities is expected to drive growth." of the segment," he said.
Raymond has the capacity to produce 7.5 million pieces of jackets, pants and shirts in India and 3.2 million in Ethiopia, the report added.
The company, which includes women's tailoring and high-value casual and hybrid clothing, will expand the product range to new markets and is working on customer acquisition.
"The China+1 strategy is working in our favor, generating stronger business relationships with existing customers and presenting multiple opportunities for new markets and customer acquisition," says Raymond's latest annual report.
This also aligns perfectly with the government's Make in India initiative, said Chairman and Managing Director Gautam Hari Singhania addressing the company's shareholders.
"As India remains a preferred sourcing destination, the China plus one strategy is playing its role," he said, adding that Raymond is expanding its manufacturing capacity by one-third of its current level.
When the expanded capacity is fully operational, Raymond will become the world's third largest suit manufacturer, Singhania added.
This expansion not only strengthens Raymond's global presence but also boosts domestic manufacturing capabilities, said its chief financial officer Amit Agarwal.
Raymond's apparel unit is a private label manufacturer and integrated supplier of high-value apparel to leading international brands.
The segment, which had a revenue of Rs 1,139 crore in FY24, mainly exports to the US, Europe and Japan. To this, exports contributed 95 percent.
Its tailoring facilities produce a variety of men's clothing, including suits, jackets, jackets, pants, denim and shirts.
Raymond expects "strong demand" for higher value apparel categories such as jackets, pants and formal shirts.
"High demand from the US, UK and European markets through efficient supply chain management and expansion of line capacity at Indian and Ethiopian facilities is expected to drive growth." of the segment," he said.
Raymond has the capacity to produce 7.5 million pieces of jackets, pants and shirts in India and 3.2 million in Ethiopia, the report added.
