Thaindian News

Hyderabad, May 9 (IANS) Leading textiles manufacturer and retailer Raymond Monday launched its new economy brand ‘Makers’, making a foray into retailing of poly viscose fabrics.

Ram Bhatnagar, Vice President (Emerging Businesses) of Raymond, announced the launch of the new brand in Andhra Pradesh. ‘Makers’ will have pan-India presence by October-November this year, he said.

‘Makers’ range of products comprises poly viscose and poly-wool trouser fabrics and a range of shirting fabric in cotton, linen and cotton blends.

Priced between Rs.250 and Rs.390 per metre for its poly viscose range and shirting range starting from Rs.129 a metre, the ‘Makers’ range will be available at all leading textile retail multi-brand outlets.

Bhatnagar said ‘Makers’ was targeting Rs.1,000 crore in revenues in five years. It expects Rs.150 crore revenues in the first year and a growth of over 20 percent year-on-year basis.

Raymond, which has revenues of Rs.3,000 crore, is expected to continue growing at 15 to 20 percent.

The group plans to invest Rs.500 crore over the next five years to enhance manufacturing capacity for the new brand. Bhatnagar said Rs.200 crore would be invested in the first two years.

Raymond, which has 22 manufacturing plants in India, is looking at increasing the manufacturing capacity for suiting from 40 million metres to 48 million metres in two years.

The firm is looking at total textile fabric capacity of 165 million metres. “In the next five years, the capacity in suiting will go up from 40 million metres to 105 million metres and in shirting from 15 million metres to 55 million metres,” Bhatnagar said.

Raymond is looking to capture 15 per cent of the Rs.6,000-crore lower segment textile market over the next two years. The textile market in India is pegged at Rs.50,000 crore, of which about Rs.6,000 crore belongs to the lower price range market.

The ‘Makers’ range will target tier III, IV and V cities. “We were compelled to launch the new brand after looking at the way these cities are growing and the shift that is happening from unorganized to organised (sectors). There is a huge market existing there,” added Bhatnagar.