Basic HTML Version
Raymond
increasing focus on
semi-urban markets
corporate news
The branded apparel business
witnessed a 7 per cent increase in
the quarterly sales to Rs. 198 crores
and reported an EBITDA of Rs. 29
crores. The branded apparel business
has shown strong resilience in a chal-
lenging business environment.
Raymond’s retail network has
crossed the 800-store mark. The
store count as on December 31, 2011,
stood at 807, including 40 stores in
the Middle East and SAARC region
covering over 1.6 million square feet
of retail space.
The Indian operations of denim
business witnessed a 11 per cent sales
growth during the quarter to Rs. 171
crores, while its EBITDA
stood at Rs. 18 crores.
Announcing the results,
Mr. Gautam Hari Singhania,
Chairman & Managing Di-
rector, Raymond Ltd., said:
“After a robust performance
in the first half of the current
financial year, the third quar-
ter has been more challeng-
ing. Consumer sentiment
has been impacted mainly
due to high inflation. How-
ever, we have a strong port-
folio of power brands which
have shown resilience during
these times. Moreover, times
like these help us become
more efficient and competi-
tive. We also believe that this
is a short-term phenomenon
and the long-term domestic
consumption story in India is well
intact. Accordingly, we will continue
to focus on our core strategies and
strengths and will continue to roll out
our retail expansion plan in smaller
towns and cities as envisaged”.
To encash fully on the strong brand
value the firm has forayed aggres-
sively into retail business. It has set
up 200 stores in the past three years
and has plans to set up 100 stores
this year. The firm is largely target-
ing Tier III, IV and V cities for fur-
ther expansion. It enjoys one of the
largest retail networks with 762 ex-
clusive stores with over 1.53 million
square feet. Majority of these stores
Raymond Ltd.’s textile
segment (standalone)
sales for the quarter
ended December 31,
2011, registered an
increase of 16 per cent
to Rs. 514 crores on
the back of both higher
realizations and volume
growth. The segment
reported earnings before
interest and tax (EBIT) of
Rs. 104 crores.
Mr. Gautam Hari Singhania,
CMD
46
|
The Textile Magazine
FEBRUARY 2012