Stock Picking - Art Or Science

If there is one Legal way to Become Rich early, it is by Investing in Stocks and Real Estate. In this Blog you will not see general news which are available at numerous sites, instead u will get filtered news and opinions which matter. Many a times some small but important news were overlooked because of simultaneous big event, I try to put all those news in my Blog. The Home Page shows posts of only last 10 days. To see all the posts click on the month in the Archive section.

Thursday, November 16, 2006

Raymond - Italian Connection

Raymond Enters Into 50:50 JV With Italian Company

Textile and apparel major Raymond Ltd today announced a 50:50 joint venture with Italian fashion company Grotto SpA to launch its GAS Brand in India. The new JV company would initially invest Rs 50 crore over a period of three years to distribute the brand through 600 retail outlets.

Commenting on the tie-up, Raymond Group President Pradeep Bhandari told reporters here today that the JV company is aiming a touch a Rs 125 crore in the next three years. Speaking on the occasion, Grotto SpA Vice Chairman Aldo Palmeri said: "We plan to distribute the GAS brand in the Indian market through flagship stores and other retail outlets over a period of three years." Thereafter, Grotto SpA plans to utilise the manufacturing capabilities of Raymond to export to other markets. Elaborating on the retailing strategy, Bhandari said that 600 points would be a mix of flagship, franchise multibrand and large format stores.

GAS will retail a total look, lifestyle collection that features its core business in premium denim clothing offering Indian consumers with international fashion. The 50:50 JV company will characterize a distinct identity in youth fashion casual apparel category India.

It may be mentioned that recently, Raymond had signed a Memorandum of Understanding with the National Institute of Fashion Technology (NIFT) to access its design inputs and enhance its tailoring services.

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