Raymond to focus on economy segment apparels

KOLKATA: Leading apparel and fabric manufacturer Raymond would focus on the growing "economy segment" apparels in the country, an official of the company said.

"The economy segment is growing at a rate of 14 per cent to 15 per cent. We expect this segment to contribute 45 per cent to 50 per cent to the revenue of the company," Raymond President (FMCG and textiles) Aniruddha Deshmukh told reporters here.

He said that the premium segment is also growing at a good rate, adding that the base for the economy segment was much higher.

The company would also foray into the lifestyle space with the launch of furnishing brands, he added.

Deshmukh said that newly launched 'Makers' brand of ready-to-stitch apparels was also gaining acceptance across the country.

He said that the company had set up a pilot project in Bihar to impart skill training in tailoring.

"Depending upon the success of the pilot project, we will set up 20 such centres across the country," he added.

On number of Raymond retail stores, he said the company has 750 stores at present and will "expand the number rapidly".