Raymond plans buyout in women’s wear segmentRaymond plans buyout in women’s wear segm

MUMBAI: Raymond Ltd, the Rs 2,500 crore Mumbai-based textiles and apparel company, is planning an acquisition in the women’s wear segment.


It is also exploring opportunities to unlock value for its real estate assets of around 140 acres in Thane, a Mumbai suburb, though it expects to do so in only about three years.


Pradeep Bhandari, group president, Raymond Ltd told DNA Money, “The women’s wear segment is growing and we have a designer-wear brand in this category since the last couple of years. I don’t know of acquisition any acquisition plans now.”


On the unlocking of Thane realty, he said “nothing much is happening.”


The rationale for the buyout? More women joining the workforce -- they constitute 20% of the total now.


“What’s not growing, though, is the marketers’ ability to tap into this huge segment,” said an analyst.


Raymond is increasing thrust on branded retailing and has plans to expand its premium brand portfolio and existing network of 400 retail outlets to 480 stores in the current fiscal and to 600 stores by the next, with retail space growing from 1.1m sq ft by 30% over the next two years.


The company is focusing primarily on Tier II and Tier III cities to increase its market share as it’s necessary to tap the smaller towns and is working on that way.


The company expects branded apparel revenues to grow at 20% over FY07-09.



source : DNAINDIA

 
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