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Raymond high on ColorPlus

Mumbai, Feb. 24: After acquiring over 75 per cent stake in ColorPlus Fashions, Raymond plans to use the brand to enhance its retail presence. For this, the company has already lined up fresh capital investments, said Gautam Singhania, chairman & managing director of Raymond.

According to Singhania, at a time when most of the garment brands in the country are showing significant growth, ColorPlus was is exception by recording a growth rate of 38 per cent.

Raymond is now planning to enhance the brand's presence in phases across its 285 retail outlets both in India and abroad. To begin with, the brand will be sold from 100 outlets in a two-year timeframe. “The accent will be in those places where the brand did not have a presence earlier,” a senior Raymond official said.

Singhania added the brand would complement Raymond’s existing apparel range and the company has ambitious plans for other brands in its portfolio. This could include acquisitions in the near future as well. It currently is in the process of ‘evolving’ its premium brand Manzoni and the idea here too is to expand its reach, officials said.

Raymond is also looking at retailing as a trust area. The company is setting up a consumer durables retailing company called Plugin Sales where it will take a 60 per cent stake.

For this year, the company is expecting a growth of 8 per cent from its textile division and a 40 per cent growth from the denim segment, where it is expanding the capacity.

Singhania was speaking to newspersons at the launch of the world's most exquisite and finest fabric, Super 200S, as part of the Chairman's Collection.

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