Indian textile major, Raymond is contemplating a business of Rs. 100 crore in the coming year, owing to the launch of its new fabric ‘Technosmart’. The company is also expecting a 10 per cent growth across India.
Being manufactured at the Vapi plant of the company, the new age ‘Technosmart’ is a collection of polywool fabrics that constitute attractive features like UV protection, wrinkle resistance and smooth touch; ideal for crafting trousers, suits and jackets.
Sudhanshu Pokhriyal, President – Suiting, Textile Business, Raymond stated, “Keeping in line with our numerous innovative products over the years, Technosmart is yet another offering from Raymond reaffirming brand’s commitment to offer consumers the highest quality product across price points. We are looking for Rs 100 crore revenue form this new product.”
Also, the company is working to ensure that ‘Technosmart’ is available at across 700 and more Raymond Shops and over 1,000 MBOs all over the country.
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It may be mentioned here that Raymond exports to markets like Australia, North America, Brazil, Europe and the Middle East around 15 per cent of its total production while it has a market share of 60 per cent in cotton fabric manufacturing.
