NewswireToday - /newswire/ -
Mumbai, Maharashtra, India, 2008/07/21 - In an unprecedented move, Raymond Limited, the world’s largest vertically integrated worsted suiting manufacturer, has in a hotly contested, high profile global auction in Australia.
Raymond sets world record by winning the global bid for the rare bale of 11.6 micron wool.
Set to globally redefine luxury in worsted suitings with world’s finest quality fabric - Super 240s.
In an unprecedented move, Raymond Limited, the world’s largest vertically integrated worsted suiting manufacturer, has in a hotly contested, high profile global auction in Australia, outbid leading competitors from Italy, other European countries and emerging markets to acquire the world’s first bale of wool of 11.6 micron, the finest ever to be offered at auction. This was one of the most magnificent line up of ultra fine wool ever to come to market and with this winning bid, Raymond is all set to redefine standard of luxury in worsted suiting by offering a limited edition of Super 240s suit length to the discerning global customer by the end of the calendar year 2008.
Commenting on the occasion, Mr. Gautam Hari Singhania, Chairman & Managing Director, Raymond Limited said, “Excellence, Quality, Trust and Leadership is the hallmark of all that we deliver at Raymond. In our endeavour to manufacture the world’s finest range of suiting with the Super 240s, Raymond will be able to demonstrate India’s manufacturing prowess to the entire world. We at Raymond are jubilant at this success, and in placing India at the forefront of the world’s worsted suiting business. It is a momentous occasion for the Indian textile industry and Raymond is proud to be pioneering yet another global first for the industry.”
The record bale, one of a magnificent line up of ultrafine wool offered was bid at over INR One Crore (i.e. $247,480) and has the measurements of 11.6 micron, 72.1 yield, 68mm and 43N/kt. Produced by Hillcreston Pinehill Partnership, southern New South Wales, and branded AUSFINEULTRA, it tested at 11.6 micron. This record bale of 64 kg clean wool (92 kg greasy wool), will enable Raymond to offer limited edition suit lengths of Super 240s to the discerning global customers across the world. After strong interest and bidding by buyers from Asia and Europe, the bale was purchased by Raymond Ltd. This is the finest bale ever to be accredited 1PP. The 1PP accreditation is the ultimate wool type in the wool industry, signifying evenness of style, character and handle.
Raymond had successfully bid for the Super 230s range in 2004 and pioneered an elite group of companies known to manufacture high-end worsted fabric in the Super 230s category. With this significant win, Raymond will seek to enhance its superior manufacturing capability by adding the 'record' bale of 11.6 micron (one micron is one millionth of a meter) wool to its prized possessions. The win is a testimony of Raymond’s ability to leverage its world class manufacturing capabilities in delivering a global first in the worsted suiting segment.
Over the years, Raymond has consistently upped its technology & skills to produce the world’s finest fabric. In 2004, Raymond launched a limited edition of the Super 220s collection, which is made from 12.7 microns of wool which was an upgrade to the 2003 launch of Super 210s collection (13.2 microns wool) and the 2002 launch of Super 200s (13.5 microns of wool). In 2005, Raymond created the world’s finest worsted suiting fabric from the finest wool ever produced in the world – the Super 230s fabric made of 11.8 micron wool.
For further information, please contact:
Paulomi Dhawan / Manish Mallick
Pallavi Rao / Chinmay Shah
Vaishnavi Corporate Communications, Mumbai
cshah[.]vccpl.com / prao[.]vccpl.com
T: 022-66568787/ 9867554176