Sunday, July 31, 2005
Raymond to focus on branding
Raymond Limited, India's leading textile and apparel brand, has decided to sharpen its focus on the branded garments business segment with a view to boost market share and profitability. The company will significantly increase the number of its exclusive branded garment stores in major Indian cities in the current year in addition to the multi-brand outlets. Raymond has four readymade garment brands in the domestic market - Park Avenue, Parx, Manzoni and an exclusive prêt-a-porter line of ready-to-wear designer clothing Be. Currently, Mumbai-headquartered Raymond earns a large chuck of its revenue from the flagship textile business and the branded apparel segment accounts for a small portion of its portfolio. Raymond proposes to invest Rs.8 billion in the current year to expand its business interests in both Indian as well as international market. Raymond plans to increase the number of its exclusive Park Avenue brand stores for formal readymade garments and accessories for men by more than 12 in as many months within India. The Rs.20-billion Raymond Group has business interests in fabrics, readymade garments, designer wear, denim, cosmetics and toiletries, engineering files and tools, prophylactics, and air charter operation.