Raymond Accelerates Garmenting Capacity by 33%, Poised as World's 3rd Largest Suit Maker.Raymond is ramping up its garmenting capacity to solidify its position as the third-largest suit manufacturer globally. This expansion is strategically aligned with the China plus one strategy, aimed at enhancing international market presence. Diversifying into women’s tailoring and high-value casual wear, Raymond aims to broaden its product range and capture new markets.

The company's recent annual report underscores the success of the China+1 strategy in strengthening client relationships and fostering new market opportunities. Gautam Hari Singhania, Chairman and Managing Director, emphasized Raymond's alignment with India's Make in India initiative, highlighting India's appeal as a manufacturing hub. Upon full operation, Raymond's expanded capacity is set to elevate it to the status of the world’s third-largest suit maker.

Amit Agarwal, Chief Financial Officer, highlighted that this expansion not only boosts Raymond's global footprint but also enhances its domestic manufacturing capabilities. With a robust revenue of Rs 11.39 billion in FY24, driven primarily by exports to the US, Europe, and Japan, Raymond’s garmenting unit operates as a key supplier to top international brands. The facilities produce a wide range of men’s wear, including suits, blazers, trousers, denim, and shirts.

Raymond anticipates strong demand for premium categories like formal jackets, trousers, and shirts, driven by key markets such as the US, UK, and Europe. The company is poised for growth with efficient supply chain management and expanded capacities in India and Ethiopia. Currently, Raymond’s facilities in India and Ethiopia have a combined capacity to produce 7.5 million and 3.2 million pieces respectively of jackets, trousers, and shirts.