Raymond Ltd. is going to focus on its premium clothing segment including khadi and open 50 to 55 exclusive showrooms across the country, as it looks to post a profit in the current financial year, said the company's management at an analyst meet held in Mumbai on Tuesday.
The apparel manufacturer which has recently set up a factory in Ethopia is also hoping that it starts contributing to the topline by the end of the fourth quarter of this financial year. The company hopes these developments will help it grow at 7-9 percent this year.
The company has set aside Rs 350 crore to invest in capacity and retail expansion.
Raymond's net loss had widened to Rs 16 crore in the last quarter of financial year 2016-17.
Raymond wants to build on its loyalty program by streamlining its benefits as more than two-third of its consumers are repeat customers. It also wants to train more tailors to add to its eco-system.
The aim is to earn a 12-15 percent return on capital employed by 2020, said the company.
Also Read: Raymond Shareholders Against Sale Of JK House To Promoters
Thane Land Development
The company did not share much information about its 140-crore Thane land parcel, beyond saying that '"extensive work" is going on to finalise the layout for its development project. Regulatory approvals are also being sought, said Raymond.
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