The largest player in the worsted suiting business - Raymond Ltd is looking at acquisitions in the women and children wear to expand its business. Raymond Ltd group president Nabankur Gupta said: “We are not averse to good acquisition if available.”
The last acquisition by Raymond Ltd was acquiring 74.1 per cent in ColorPlus Fashions Ltd. Mr Gupta added that though the company has a complete assembly line in the mens’ wear, it was exploring the possibility of manufacturing shirts. Raymond Ltd has a presence in the premium formal and casual shirts segment.
The company launched a new fabric with the domain name 220S on Wednesday though the price has not been announced. Raymond Ltd is the third player in the world to launch the premium quality fabric, the wool for which was imported from Australia. The new fabric is expected to cost over Rs 1 lakh for a suit piece and will be available at its 10 retail outlets across the country.
The company is also launching its range of summer wear called CoolPlus next month. Though the fabric has been made from wool, it has a cooling effect, Mr Gupta said.
With the trend moving from fabric to readymade garments, the company is also concentrating on readymade garments business. However, the company sees a 15 per cent increase in the worsted fabric business with the concept of formal work-wear being promoted by companies across nations.
Mr Gupta said that the company has the potential to increase its fabric capacity by another four to five million though the time frame has not been finalised.
Mr Gupta added: “We want India to be a stronger player. The worsted fabric has been the domain of the British from where it moved to Italy. Now these countries are looking at India. The company which has a state-of-the-art manufacturing facility at Chindwara in Madhya Pradesh is planning to invest Rs 120 crore in upgrading technology in the current fiscal.”