Raymond to double retail stores

Textiles and apparels major Raymond is planning an aggressive expansion of its retail business by more than doubling its stores under various categories.

The expansion plan, which envisages taking the number of stores across categories from 433 now to 947 by March 2010, will see the area under Raymond's retail shops business move up from 10.25 lakh square feet to 20 lakh sq ft, Aniruddha Deshmukh, president of Retail and FMCG at Raymond said today.

The expansion plans lay a sharp focus on Maharashtra where the company intends to open 46 new stores in addition to the existing 46, he added.

Raymond will also increase its presence in Goa and take the number of stores in Goa from just one now to seven in three years, Deshmukh added.