Raymond has sought internal approvals for incorporating the Wholly Owned Subsidiary (WOS) of the company in Dubai which will be engaged in Trading of Textile, Apparel and related products in Middle East and Africa. The company will make investment up to $5 million, in one or more tranches.
The company has also sought approval to incorporate a WOS of Silver Spark Apparel (SSAL) in Sharjah which will invest to set up garmenting facility in Ethiopia, East Africa. SSAL is in turn a 100% subsidiary of Raymond.
Raymond is one of India’s largest branded fabric and fashion retailers. It is one of the leading, integrated producers of suiting fabric in the world, with a capacity of producing 38 million meters of wool & wool-blended fabrics.