Textile major Raymond today said it is targeting a 4 per cent market share in the 120 million metre branded suiting market with the completion of pan-India roll out of its new economy brand makers.

“We aim to have 4-5 per cent share in the branded suiting market pegged at 120 million metre with the pan-India roll out of our economy brand ‘Makers’ by this fiscal year end,” Raymonds Vice-President, Emerging Business, Mr Ram Bhatnagar, told reporters here.

The total suiting market in India is pegged at around 800 million metres in volume and Rs 16,000 crore in value terms, of which, 15 per cent is branded, he said.

The Indian suiting market is growing at the rate of 10 per cent annually.

Raymonds also announced the launch of an insurance scheme for its retailers providing personal accidental cover upto Rs 10 lakh to them, and up to Rs 5 lakh for the salesmen.

“We are launching an insurance scheme for our retailers providing them personal accident cover up to Rs 10 lakh, to be launched in India by anyone for the first time,” he said.

After launching ‘Makers’ in Eastern and Northern parts of the country last year, the company today announced its launch in the Western region.

“Makers will be available at 2,000 multi-brand outlets in the first phase of launch, but it will not be there at any of the Raymond outlets,” Mr Bhatnagar said adding that seven wholesale distributors have been appointed in Gujarat for its distribution.

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