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Textile firm Raymond will pump in Rs 100 crore to open about 300 stores across the country by end-March 2011 as part of its expansion plans.The apparel-maker's 'The Raymond Shop' would come up in smaller class IV and V cities.
"We are investing Rs 100 crore to set up precisely 289 Raymond shops but we expect to do more than 300. This expansion plan is for the period between April 2009 and March 2011," Raymond President, FMCG & Retail, Aniruddha Deshmukh told reporters here today.
Raymond's Chairman and Managing Director Gautam Singhania, said funding for the project would be split equally between the company and franchisors/franchisees.
Raymond expects its potential turnover to exceed Rs 200 crore from these stores on an annualised basis.
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