NEW DELHI: The textile major Raymond is looking forward for pan-India expansion with its plans to open 500 new stores in next three years.
The company will adopt franchise route to open planned outlets in tier III, IV and V cities across the country.
At present, the brand has 670 outlets running successfully all across the country whereas targets 200 new locations for its expansion.
Rakesh Pandey, President of Retail and Business, opined, “Given the improved standards of living and subsequently growing consumer demand fuelled by media and travel exposure in these small towns, we plan to launch 500 more outlets in the next three years in around 200 new locations which we have identified as potential retail markets. Most of these outlets would be franchised to tap the potential of the local entrepreneur’s market and consumer knowledge.”
Initially, a investor requires an investment of Rs 60-65 lakh along with the area of 1,000 - 500 square feet to attain the franchise of Raymond.