Textile major Raymond today said it targets 4-5% market share of country’s Rs 4,000 crore low-priced fabric market by the end of next fiscal and plans 'Makers' pan-Indian presence at 50,000 multi-brand outlets in two years.
Known for premium fabric segment, Raymond last year rolled out ‘Makers’ its low price range of shirting and trousers fabric last year, oriented towards youth.
"We are targeting market share of 4 to 5% (of organised economic clothing segment)," Raymond Limited, Vice President, Emerging Businesses, Ram Bhatnagar said here today.
He said the market size of economy clothing is pegged at Rs 4,000 crore. The pre-matched ready-to-stitch Combo Packs will be available at prices starting Rs 499 while the poly viscose range is priced between Rs 250 and Rs 390 and shirting range starts from Rs 129.
"Because of growing urbanization, youth has become brand conscious and they now prefer branded garments over unbranded ones. That is why we decided to launch ‘Makers’,” he said.
Already rolled out economy clothing brand in eastern markets, it plans to have pan India presence by 2013-14 with maximum penetration in smaller cities. "We expect that our product will be available at 50,000 muti-branded outlets by 2013-14," he said.
"North India has been a stronghold for Raymond and we believe that will be the same for Makers as well," he said while launching this brand Punjab, Haryana and Himachal Pradesh here today.
He said products will be available at leading outlets in over 400 locations in the northern regions, he informed.
Raymond stock price
On November 26, 2015, Raymond closed at Rs 419.90, down Rs 0.85, or 0.2 percent. The 52-week high of the share was Rs 579.50 and the 52-week low was Rs 360.05.
The company's trailing 12-month (TTM) EPS was at Rs 15.58 per share as per the quarter ended September 2015. The stock's price-to-earnings (P/E) ratio was 26.95. The latest book value of the company is Rs 190.25 per share. At current value, the price-to-book value of the company is 2.21.
Set email alert for
ADS BY GOOGLE
video of the day
Like Bank Nifty; mkt has strong support at 7700: PhillipCap