Raymond sets up facility in Ethiopia

Textile major Raymond, through its wholly-owned subsidiary Silver Spark Apparel Ethiopia, on Tuesday commissioned its greenfield garment manufacturing facility in Ethiopia.

Set up at Hawassa Industrial Park (HIP), with an investment of over Rs 100 crore, the facility will mark Raymond’s entry in the top five leading suit manufacturers in the world. The garmenting plant in Ethiopia will ensure an upper hand for Raymond in price competitiveness as the company gains duty free access in key export markets, including the US and Europe.

Raymond Chairman and Managing Director Gautam Hari Singhania said, “In our endeavour to ensure price competitiveness, Ethiopia makes a compelling business case and enables us to serve our international customers.”