Raymond aims 20 pc topline, 10 pc export growth

MUMBAI: Branded apparel maker Raymond Ltd on Thursday said it is aiming to clock 20 per cent topline growth and 10 per cent growth in exports this fiscal.
    
The company had recorded a turnover of Rs 1,284.19 crore during the financial year ended March 31, 2007 as compared to Rs 1,324.74 crore in the previous year.
    
"We hope to record 20 per cent growth in total revenue this fiscal," Group President Pradeep Bhandari said here.
    
Bhandari said, "We aim 10 per cent growth in volume and value this fiscal from exports."
    
Apart from selling branded garments both for men and women, Raymond is also into manufacturing and selling fabrics.
    
"Our fabric business is growing by 10-15 per cent, while the apparel business has been witnessing 40 per cent growth year-on-year."
    
Meanwhile, company Chairman and Managing Director Gautam Singhania said Raymond has no plans to spin off its retail business into a separate business.
    
"We have over 400 retail stores now and we want to make it to 1,000 in the next three years. There, however, has no plans to spin off the retail business," Singhania said.
    
The company, which launched a new range of crafted garments for men under the Raymond brand name Raymond Finely Crafted Garments (Raymond FCG), expects to garner a revenue of Rs 100 crore in the next 2-3 years from this segment.