Yes, Raymond is an Indian company founded in the year 1925 and currently headquartered in Mumbai, Maharashtra. It is one of largest manufacturers of worsted suiting fabrics in the world with a dominant share in the Indian suiting fabric market. Apart from suiting fabric, the company also operates in multiple other sectors like apparels, FMCGs, real estate, and engineering.
Raymond is particularly known for its textile business with an annual manufacturing capacity of 38 million metrics of wool and wool-blended suiting fabric. Furthermore, the company owns various apparel brands like Raymond Ready To Wear, Park Avenue Women, Raymond Made To Wear, Ethnix and others.
| Detail | Info |
| Founded | 1925 |
| Founder | Albert Raymond, Abraham Jacob Raymond |
| Headquarters | Mumbai, Maharashtra |
| CEO | Gautam Singhania |
| Sector | Textiles, Apparels, FMCGs, Real Estate, Engineering |
Company History
Raymond was established in the year 1925 by Albert Raymond and Abraham Jacob Raymond as Raymond Woolen Mill at Thane near Mumbai in Maharashtra. The company initially produced coarse woolen blankets. In the year 1944, Raymond was acquired by Kailashpati Singhania and the Singhania family remains the owner of this company till date.
Raymond established itself as a leading manufacturer of worsted suiting fabrics. In the year 1958, the company launched its flagship Raymond brand in wool and wool-blended fabrics. Raymond ventured into branded apparel segment with the launch of its premium menswear brand named Park Avenue in 1986. This was followed up by other brands like Parx and ColorPlus.
In the 2000s, Raymond entered the FMCG business by acquiring brands like Beardo. The company ventured into real estate with the establishment of Raymond Realty in 2019.
Current Status
Raymond holds 60% share in the Indian worsted suiting fabric market. It has a network of over 1600 exclusive retail stores across more than 600 towns and cities across India along with 49 international stores. The company exports its suiting fabrics and other products to over 55 countries, including Japan, USA, and Europe.
Raymond has bolstered its engineering operations with the acquisition of Maini Precision Products. The company has demerged its lifestyle business into Raymond Lifestyle Limited.
Future Outlook
Raymond is looking to innovate more in premium fabrics and improve its sustainability efforts through the use of eco-friendly materials. The company aims to open over 500 retail stores in the next three years to expand its market reach.
Raymond is focusing on enhancing its manufacturing capabilities in aerospace, defence, automotive, and electric vehicle components. Its real estate portfolio comprising of 100 acres of projects and joint developments are expected to take off in the coming years.