Raymond Ltd one of India's largest branded fabric and fashion retailers and one of the leading, integrated producers of suiting fabric in the world informed BSE today that the company has recently sought internal approvals for incorporating new overseas subsidiaries as it plans to launch its products in the West Asian and African markets through its subsidiaries.

The company will make investment of up to USD 5 million, in one or more tranches.

The company is planning for wholly owned subsidiary of the company in Dubai which will be engaged in trading of textile, apparel and related products in Middle East and Africa.

It further informed that its wholly owned subsidiary Silver Spark Apparel Ltd (SSAL) in Sharjah, will invest to set up garmenting facility in Ethiopia, East Africa.

Raymond Ltd's manufacturing unit at Udwada in Valsad, is one of the largest worsted suitings plants in India. The Group owns apparel brands like Raymond, Raymond Premium Apparel, Park Avenue, Park Avenue Woman, ColorPlus and Parx. All the brands are retailed through 'The Raymond Shop' – One of the largest network of over 700 retail shops