Raymond Will Focus On FMCG Business To Double Revenue
Textile and apparel major Raymond Ltd. is looking to double its turnover to Rs 1,000 crore over the next 3-4 years by focussing its fast-moving consumer goods segment.
The apparel major has launched a new perfume under its deodorant brand Park Avenue to tap the Rs 5,000-crore male grooming segment, Giriraj Bagri, chief executive officer of the FMCG business at Raymond told BloombergQuint.
Raymond is positive on this category as it expects to see double-digit growth from growing at single digit this year, he added.
The company will focus on doubling its distribution reach in tier 2 and tier 3 cities and will also export its products to the Middle-East, Bangladesh and Nepal. It plans to enter the South Asian markets of Sri Lanka, Bhutan and Myanmar in the next six months, Bagri added.