Raymond eyes retail growth in non-metros

Gautam Hari Singhania-led textiles maker and retailer Raymond Ltd plans to add about 100 retail outlets in the current financial year as domestic consumer sentiment turns buoyant, though demand from some developed economies has not matched expectations, chief financial officer H Sunder said on Wednesday.

Gautam Hari Singhania-led textiles maker and retailer Raymond Ltd plans to add about 100 retail outlets in the current financial year as domestic consumer sentiment turns buoyant, though demand from some developed economies has not matched expectations, chief financial officer H Sunder said on Wednesday.

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The firm plans to open up to three-fourths of the new stores in non-metros and class IV and V towns, Sunder said.

Raymond also plans to expand its shirtings capacity by 10 million metres per annum under its joint venture with Italy’s Gruppo Zambaiti, he said.