Textile and apparel major Raymond is gearing up to invest Rs 350 crore in capacity and retail expansion this year, according to a source from the company. This will help the company ramp up its apparel sale and grow the fabric business over the next few years. Of the Rs 350 crore, Rs 200 crore will be allocated to manufacturing expansion, both in India and offshore, while Rs 150 crore will go towards retail expansion. Raymond has more than 1,000 retail stores that are franchise based. But the new move is that the company is planning to make it about 1,500 stores by 2020. Signage players must roll up their sleeves to grab this opportunity in the retail domain for fresh in-store display, branding and such jobs.
