![]() Financial Daily from THE HINDU group of publications Friday, Aug 15, 2003 |
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Marketing
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Retailing Raymond's Be trains its eyes on West Sudha Menon
Pune , Aug. 14 IT has made a style statement in the domestic fashion industry and now Be:, textile major Raymond group's foray into designer prêt retailing, is training its sights on foreign shores where it hopes to catch the attention of discerning buyers. The company, which set up its first international outlet in Dubai last year, is looking out for potential markets, and hopes to open at least a couple of foreign stores before the end of the current fiscal, Mr Aniruddha Deshmukh, Executive Director, told Business Line. "The response to the Dubai store has been more than satisfying, which is why it makes sense to look at more stores at different locations," he said. While the company is yet to zero in on locations for kicking off its designer prêt stores, he said it would make business sense to tap markets in West Asia where the response to the merchandise has been very encouraging. More than 50 per cent of the sales from Be:'s Dubai store comes from expatriate Indians while locals and other foreigners living in the city account for the rest. Also, "Places like Singapore, Hong Kong and Kuala Lumpur where there is a large Indian expat community, and likely to have demand for Indian clothes, are a good starting point for us," he said. Meanwhile, the company is also planning to expand its operations in the domestic market, and is firming up plans to set up at least four more stores in the current year. While one of the stores is set for a September launch in Greater Kailash, Delhi, Mr Deshmukh said the company is in talks with a couple of malls in other cities where it plans to have store-in-stores in. "The market for designer prêt is predominantly in Delhi, Mumbai and the mini-metros and we are aggressively looking for affordable space in Mumbai where we want to set up another store," he said. The designer prêt wear store is also gearing up to add some style and pizzazz to its store shelves. The company was scouting for fresh designing talent at the recently concluded India Fashion Week in Mumbai and is believed to have short-listed some names who made their mark on the ramp this time over. Mr Deshmkh said the company is due to meet designers Rohit Gandhi and Rahul Khanna of Cue, Anamika Khanna, Nikhil and Shantanu and Aki Narula for presentations in the Capital next month. "We liked their signature styles during the showing at NCPA and hope to tie up a relationship with them," he said.
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