Technosmart, a new revolutionary fabric from Raymond is expected to boost the company’s fortunes with the management targeting a business of Rs 100 crore in the next one year. The company is also looking at a 10 per cent growth across India.
The new age Technosmart collection of polywool fabrics has features like UV protection, wrinkle resistance and smooth touch, which are ideal for crafting trousers, suits and jackets. It is being manufactured at its Vapi plant in Gujarat with the annual capacity of 1.3 million metres. According to Pokhriyal, the size of the ready-to-stitch-garment industry in India is estimated at Rs 28,000 crore and the company is having a 60 per cent market share. The size of the total textile market in the country was to the tune of Rs 3 lakh crore.
During the quarter ended on June 30 this year, Raymond added 20 new stores and closed 20. It also completed renovation of eight stores, while 18 of its stores were under renovation as on June 30. Raymond also plans to have an extensive digital campaign to reach its Technosmart is available across 700 plus Raymond shops and 1,000 MBOs across the country. Raymond exports 15 per cent of its total production to markets like Australia, North America, Brazil, Europe and the Middle East. It has a market share of 60 per cent in cotton fabric manufacturing.