Raymond Expands Garmenting Capacity to Become Global Suit Giant

Raymond is expanding its garmenting capacity by one-third, positioning itself as the third-largest suit maker globally. This expansion will bolster Raymond's presence in new markets and strengthen existing customer relationships. The move aligns with India's Make in India initiative and leverages the China plus one strategy.

Raymond is set to increase its garment manufacturing capacity by one-third, propelling it to the ranks of the world's top three suit makers. This strategic expansion aims to capture new markets and enhance customer relationships, leveraging the China plus one strategy in the global market.

According to Raymond's latest annual report, this initiative aligns with the government's Make in India program, aimed at bolstering domestic manufacturing capabilities. Chairman and Managing Director Gautam Hari Singhania emphasized that the China plus one strategy is reaping benefits for the company.

Raymond's Chief Financial Officer Amit Agarwal stated that this expansion will significantly boost the company's global presence and domestic manufacturing capabilities. With facilities capable of producing millions of garments in India and Ethiopia, Raymond anticipates strong demand in higher-value categories like formal jackets, trousers, and shirts, particularly from the US, UK, and European markets.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)