Textile and apparel major Raymond Ltd. is looking to double its turnover to Rs 1,000 crore over the next 3-4 years by focussing its fast-moving consumer goods segment.
The apparel major has launched a new perfume under its deodorant brand Park Avenue to tap the Rs 5,000-crore male grooming segment, Giriraj Bagri, chief executive officer of the FMCG business at Raymond told BloombergQuint.
Raymond is positive on this category as it expects to see double-digit growth from growing at single digit this year, he added.
The company will focus on doubling its distribution reach in tier 2 and tier 3 cities and will also export its products to the Middle-East, Bangladesh and Nepal. It plans to enter the South Asian markets of Sri Lanka, Bhutan and Myanmar in the next six months, Bagri added.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
