Raymond Ltd on Saturday said it would invest over Rs 425 crore (Rs 4.25 billion) in expanding its manufacturing capacity across the country, including Rs 100 crore (Rs 1 billion) for setting up three factories in Bangalore.

Raymond's Bangalore unit will produce formal suits and trousers, formal shirts and denim wear, Group president Pradeep Bhandari said in Bangalore at the opening of its exclusive Park Avenue store.

He said the firm is gearing up to explore opportunities in the post-quota regime and export its goods. "This (store) launch marks our entry in southern India," Bhandari said.

He said Raymond Apparel's posted sales of Rs 190 crore (Rs 1.90 billion) ex-factory and about Rs 260 crore (Rs 2.60 billion) in counter sales last fiscal.

Bhandari said exclusive outlets for Park Avenue, Parx and Manzoni would be opened in various cities.