Textile giant Raymond is set to significantly boost its garmenting capacity by one-third, positioning itself as the world’s third-largest suit maker. The company’s expansion strategy is aligned with the government’s ‘Make in India’ initiative and aims to capitalise on the growing ‘China plus one’ trend in the global market.
Chairman and Managing Director Gautam Hari Singhania expressed optimism about India’s emerging role as a preferred sourcing destination. “The China plus one strategy is playing to our advantage, opening doors to new markets and strengthening existing customer relationships,”
Raymond’s expansion will not only solidify its global footprint but also create a substantial boost for domestic manufacturing. The company’s garmenting unit, a key contributor with a revenue of Rs 1,139 crore in FY24, primarily exports to the US, Europe, and Japan.
To cater to evolving consumer preferences, Raymond is diversifying its product range to include women’s tailoring, high-value casual wear, and hybrid styles. The company anticipates strong demand for higher-value garment categories, especially in the US, UK, and European markets.
With production facilities in India and Ethiopia, Raymond is well-positioned to meet the growing global demand for high-quality apparel. The company’s focus on efficient supply chain management and capacity expansion will drive substantial growth in the garment segment.
