Financial Daily from THE HINDU group of publications
Friday, Feb 06, 2004
Financial Daily from THE HINDU group of publications Friday, Feb 06, 2004 |
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Marketing
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Brands Raymond bid to promote suiting brand Manzoni Our Bureau
Mumbai , Feb. 5 RAYMOND is realigning its retail strategy to provide focus and grow its premium shirt and suiting brand Manzoni. To this effect, the company announced plans to set up 50 shop-in-shops in two months, mostly in its flagship and large franchisee stores. The idea is to create a special shopping experience, and is doing so with the help of the strong retail network that Raymond already has. The brand has also unveiled a leather accessories range that includes luggage, wallets, and portfolio bags that will be sold under the Manzoni name. These are to complement the range that includes shirts, suits, trousers, jackets, ties and other accessories. According to Mr Shreyas Joshi, Executive Director, Raymond Apparel Ltd, the stores will focus on the brand; and create a conducive environment for customers to enjoy the luxury of the brand. The brand accounts for about 10 per cent of the Raymond Apparel's turnover. The average Manzoni suit costs Rs 15,000 to Rs 22,000; shirts cost between Rs 1,800 and Rs 3,000; and, trousers Rs 3,600 and Rs 4,000. The first such shop-in-shop was inaugurated on Thursday (today) at its flagship store at Warden Road, Mumbai.
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