Real estate sector, after a long lull owing to downturn worldwide, is refurbishing steadily yet again and the potentiality is such that it is enticing celebrated players of other businesses. The latest to join the scenario is Raymond, the world’s largest producer of worsted suiting fabrics, commanding an over 60% market share in India.
The company has decided to enter into real estate development business and has already achieved a milestone since its board has already approved the scheme of making use of 15-20 acres of surplus land at Thane in the Indian state of Maharashtra for developing affordable residential property.
What is the focus of the company for the time being? It has come to the knowledge that the primary focus of Raymond would be in the residential segment and funding would be from internal accruals. What’s more, each and every activity would be at the behest of a department of Raymond.
Raymond has the credit of expanding worsted suiting to 33 million metres with a new facility at Vapi, Gujarat. In addition to expanding capacity of its denim fabric facility to 40 million metres, the company has joined hands with UCO NV of Belgium, a leading producer of high end denim to form a global denim company with a combined capacity of 80 million metres manufacturing facilities in 3 continents and a global marketing network.
The company has also expanded its textile business by entering a JV with Gruppo Zambaiti, a textile major from Italy in the form of a 50:50 JV with Cotonificio Honegger SPA for setting up of a greenfield facility in India for high value cotton shirting fabric.
This JV with Gruppo Zambaiti is set to help Raymond bring in best of the best technological & design inputs and a strength of a global marketing network. Its JV with Lanificio Fedora is Italy’s leading woollen fabric manufacturer for the manufacture of carded woollen products and a respected name in the global markets has helped enhance Raymond’s carded woollen business as well.
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