Aiming for a share in the Rs 800 crore (Rs 8 billion) premium women western-wear market, Apparel company Raymond Ltd [Get Quote] today announced a foray in the womenwear segment with the launch of ColorPlus women.

As the company expects Rs 150 crore (Rs 1.5 billion) revenue in the womenwear segment in the next two-three years, the apparel company made the venture into the western womenwear.

Raymond will open 175 stores in the next three years to retail the range of ColorPlus apparel which will include day-wear, sports-wear, business-wear as well formal-wear.

ColorPlus -- women will vie for a significant part of the Rs 800 crore premium western womenwear market growing at 20 per cent annually. Raymond Chairman and Managing Director Gautam Hari Singhania told reporters.

By the end of the year, Raymond is looking to open five exclusive ColorPlus women-store as well as twelve lifestyle stores. It will be launched in 8 metros of Delhi, Mumbai, Kolkata, Chennai, Bangalore, Hyderabad, Pune and Ahmedabad.

The range starting from Rs 900 -- Rs 1,900 will be available at ColorPlus flagship store in multi-brand outlets and large format stores across the country.