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Raymond eyes more stores in smaller towns

Renowned apparel house Raymond announces its plan to increase revenue from retail business up to 40 percent in two years from the current Rs 1,000 crore, for which the company will add more stores in smaller towns. The company is looking at 30-40 percent jump in revenue from retail business in the next two years from the current turnover of about Rs 1,000 crore. There will be around 250 stores in tier II and tier III cities, and most of them would be in the franchisee model with the size varying between 1,000-1,500 sq ft. Such introduction of new stores in smaller towns will bring in new business opportunity for signage players working on in-store displays and sign suppliers.

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