Raymond plans Rs 425cr capex

Raymond is planning to invest over Rs 425 crore in expanding manufacturing capacity across the country including Rs 100 crore for setting up three factories in Bangalore.

"Raymond's Bangalore units will produce formal suits and trousers, formal shirts and denim wear," Pradeep Bhandari, group president, said after opening an exclusive Park Avenue store in the city today.

"This (store) launch marks our entry in south India," Bhandari said.

He said Raymond's apparels posted sales of Rs 190 crore ex-factory and about Rs 260 crore in counter sales last fiscal.