LAUNCHES INTEGRATED E-COMMERCE PORTAL
Raymond Limited announced its consolidated revenue for the second quarter ending September 30, 2014 up by 19 per cent to Rs. 1471 crores. Its textile segment recorded a sale of Rs. 694 crores, an increase of 23 per cent over the previous year’s figures due to growth in the export markets and increased penetration of shirting fabrics across B2C channels.
The company’s apparel segment sale stood at Rs. 293 crores, an increase of 15 per cent y-o-y. Its retail stores count as on date stood at 964 across all formats, including 43 stores in the Middle- East and SAARC regions covering over 1.86 mn sq.ft of retail space. The garmenting segment of Raymond grew by 28 per cent to Rs. 150 crores during the period under consideration. The luxury cotton shirting fabric business of the company grew by 21 per cent to Rs. 107 crores during the quarter. Its denim segment sales stood at Rs. 234 crores, a decline of one per cent.
Announcing the results, Mr. Gautam Hari Singhania, Chairman and Managing Director, Raymond ltd said, “During the quarter ended Sep’14, while the revenue growth was in line with our expectations, profitability did not meet our desired targets particularly in branded textile segment. We are confident about the strategic direction of our businesses and towards this end, our efforts to strengthen the brand and expand or modernise the retail network will continue.”
The textile major also announced the launch of its official online store ‘RaymondNext.com’ which integrates all Raymond products, brands and services under a common e-commerce platform.