Raymond Textiles, the textile division Raymond Ltd, is aiming at a 7-8 per cent growth in its suiting business by next financial year.
By suiting one refers to the fabrics which are used for tailoring blazers, coats, jackets, suits and trousers. Other segments under the textile division include fabrics for shirts, custom made garments and exports.
“We are expecting a 7-8 per cent growth in FY-17 coming mostly from the suiting business. This year, we hope to close at a turnover of around Rs 2,300 crore,” Vice President, Head Sales & Distribution Textiles, Raymond Ltd, Ram Bhatnagar, was quoted by The Hindu Business Line as saying during the launch of its ‘technosmart’ brand of fabrics
Technosmart is being designed to cater the corporate travellers who focus on ‘functionality’, as the fabric will have less wrinkles, UV-protection and so on. Raymond is expecting the fabric to generate a revenue of Rs 100 crore by next year.
Sources are assuming that the functionality of Technosmart is a strategy of Raymond to beat a slump in the market. Last year, consumers have seen the launch of sub brands like Ibex, Qivuut, Beaver, Cool Wool and many more.
