Raymond To Pump Rs 1400 Crore In Amravati Plant

Indian branded fabric and fashion retailer, Raymond in a phased manner is going to invest Rs 1,400 crore in its new plant at Amravati in Maharashtra which will go live by the year-end.

In the first phase, the new unit that will produce linen and denim, cotton shirts among other, the company has made an initial investment of Rs 200 crore. The facility will employ about 8,000 workers when fully operational.

The plant will be used to produce items to meet the demand of Raymond’s own brands as well as for other third parties.

The company is on a retail expansion mode with 300 fresh stores likely to open in the next two years. Currently, Raymond has 1,100 outlets in 450 cities and post expansion will have a presence in 750-800 cities across the country.

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