Feedback
A pioneer B2B media and publication platform connecting with Fashion Brands & Retail in India

Raymond’s Q3 net profit grows by 420 per cent

In third quarter of this financial year that ended in December 2019, Raymond reported a 420 percent rise in its net profit to Rs 195 crore ($27.5 million) as against Rs 38 crore it had reported in the corresponding period of last fiscal. The company’s net sales for the October-December period also grew by 12 percent to Rs 1,905 crore as against Rs 1,706 crore it had reported in the year-ago period.

Branded textile segment was the highest contributor to the company’s overall revenue with Rs 866 crore followed by apparel and garments segments which contributed Rs 488 crore and Rs 239 crore respectively.

The company continued to consolidate its market share with topline growth. The quarter also witnessed the deleveraging of balance sheet with over Rs 400 crore primarily driven by the net proceeds of land sale. The company also announced the demerger of its Lifestyle Business into a separate business entity. This will enable it to focus on its strategy and specialisation for sustained growth across its businesses.

Raymond ended the quarter with a store count of 1,584 across all formats covering about 2.44 million square feet of retail space.

LATEST TOP NEWS
  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10

Women’s brand Mustard Fashion to expand retail across India and beyond

Women’s brand Mustard Fashion to expand retail across India and beyond

Never losing its focus on quality, Mustard Fashion is constantly improvising its working. The brand, that manufactures and markets designer apparels for women in regular and plus sizes, recently launched... Read more

Three Indian designers shortlisted for LVMH prize

Three Indian designers shortlisted for LVMH prize

Three Indian designers, Priya Ahluwalia, Kaushik Velendra and Supriya Lele are among 20 shortlisted for the LVMH prize for young fashion designers. Priya Ahluwalia is an Indian-Nigerian menswear designer. She uses... Read more

Reliance Retail listed in Deloitte’s Global Powers of Retailing 2020 index

Reliance Retail listed in Deloitte’s Global Powers of Retailing 2020 index

Reliance Retail’s revenue increased 88.4 per cent in fiscal 2018 as compared to fiscal 2017. The retailer operates more than 10,000 stores in the country. The company figures in Deloitte’s Global... Read more

Popular women’s lingerie maker Groversons launches first international range

Popular women’s lingerie maker Groversons launches first international range

Incepted with the aim of making comfortable and fashionable lingerie for every Indian woman, Groversons has been building a lingerie heritage for over six decades. The brand caters to a... Read more

109 F to expand retail footprint

109 F to expand retail footprint

Launched in 2006 by Creative Lifestyles, 1090F is a leading women’s western wear brand. In a relatively short span of time, the brand has seen tremendous success in overseas markets... Read more

Five ethnic wear brands beating competition

Five ethnic wear brands beating competition

Though big brands like Manyavar-Mohey, Meena Bazaar, and Neeru’s are largely dominating the Rs 35,000 crore ethnic wear industry in India, five new companies are giving a tough fight to... Read more

Kiabza - Decluttering wardrobes and monetizing them

Kiabza - Decluttering wardrobes and monetizing them

Actress Evelyn Sharma is taking her the next step towards responsible fashion. To buy only second-hand clothing is her New Year’s resolution for 2020, and it’s an easy one she... Read more

Employment generation to fuel garment industry growth in India

Employment generation to fuel garment industry growth in India

According to Axel Baumanns, Product Management and Sales, Kannegiesser, the garment industry in India is suffering. Speaking at the recently held GTE exhibition, he said, “Countries like Bangladesh, which proves... Read more

Tier II cities driving sportswear market in India

Tier II cities driving sportswear market in India

Tier II and III towns in India are driving demand for sportswear. The main factor behind this is the growth in e-commerce sales. A host of smaller cities, those like... Read more

Automation increasing efficiency, transparency and sustainability amongst garmen…

Automation increasing efficiency, transparency and sustainability amongst garment manufacturers

The Indian subcontinent is moving towards automation as it reduces the overhead cost per unit of garment. People are investing in garment production need to be aware of these processes... Read more

MOST POPULAR NEWS
Go to top