Gautam Hari Singhania-led textile major Raymond is looking to enhancing its garmenting capacity as the ongoing trade war between the US and China has opened up fresh opportunities for Indian textile companies. Raymond Group, which manages garmenting business through its wholly-owned subsidiaries — Silver Spark Apparel (suits), EverBlue Apparel (jeans wear) and Celebrations Apparel (shirts) — is exploring opportunities in Andhra Pradesh, Telangana and Jharkhand based on the incentives these States offer. The focus is on up-selling present capacity and improving value realisation.
The company has lined up a capital expenditure of Rs 250 crore for this financial year and entering into new segments such ethnic wear through khadi brand and women’s workwear. The company recently completed a project to produce 4.2 million metres linen fabric per year in Amravati.
The company has also bagged an order from one of the US’ largest bespoke players that had moved 20-25 per cent of its production from China. The supply started three months ago and will be scaled up in the coming months.