India-based textile and apparel major, Raymond has expressed confidence in gaining growth in its branded apparel trade. The management of the company is also contemplating to scale up its branded business with focus on a franchisee-led asset-light model.
“We will certainly grow at over 20 per cent in our branded apparel business and will reach the double-digit EBIDTA margin in the next 12-24 months,” Sanjay Bahl, Group CFO at Raymond said.
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Raymond, which saw nearly 30 per cent decline in demand soon after demonetization of high value currency notes in India, is also planning to open around 1,500 stores for its brands by the year 2020 by continuing to add about 150-200 stores every year for the next three years. Currently, it has 1,060 stores.
The Group owns apparel brands like Raymond, Raymond Premium Apparel, Park Avenue, Park Avenue Woman, ColorPlus, and Parx. All the brands are retailed through ‘The Raymond Shop’ (TRS) India and overseas, in over 200 cities.
