Raymond plans to confide in 80 shops per model yearly, concentrate on temple cities for development

Attire and textiles enterprise Raymond plans to launch between 50 and 80 brick-and-mortar shops yearly for the approaching two to 3 years. Because the enterprise approaches its first century, it plans to hunt out up and coming temple cities for development.

“We’re pursuing an aggressive development technique with plans so as to add about 50 to 80 shops per model going ahead yearly for the following two to 3 years,” Raymond Restricted’s chief enterprise officer for attire Debdeep Sinha instructed India Retailing. The enterprise plans to concentrate on Tier 1 and a couple of cities for retailer openings as these areas have proved to be receptive markets for Raymond’s mid-premium and premium product strains.

Raymond Restricted has a listing of 33 cities the place it sees important potential for brick-and-mortar enlargement regardless of their smaller measurement. Naming these as “hidden gem” cities, Sinha named Uttar Pradesh’s Gorakhpur and Varanasi as examples of rising retail locations.

Spiritual tourism has skilled an uptick in latest months. For instance, the opening of the Ram Mandir in Ayodhya in Uttar Pradesh created a retail frenzy with many vogue and jewelry companies opening shops within the city in addition to launching unique product strains. Raymond Restricted plans to faucet into this sentiment and open brick-and-mortar shops in various temple cities shifting ahead.

Raymond may have accomplished 100 years in enterprise within the yr 2025 after launching in 1925. The enterprise will start its century celebrations from September this yr and plans to proceed to develop throughout the nation throughout its subsequent century.

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