Financial Daily from THE HINDU group of publications
Tuesday, Feb 14, 2006
Financial Daily from THE HINDU group of publications Tuesday, Feb 14, 2006 |
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Marketing
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New Products & Services Raymond forays into kids' apparel segment Our Bureau
Mr Gautam Singhania, CMD, Raymond Ltd, (left) and Mr Pradeep Bhandari, Group President, at the launch of Zapp!— a lifestyle brand for kids — in Mumbai on Monday. — Paul Noronha
Mumbai , Feb. 13 RAYMOND Ltd announced, on Monday, its entry into the children's apparel segment with the introduction of its new brand, `ZAPP.' The brand will cover the entire range of children's apparel and accessories. It also plans to set up 12 `ZAPP!' stores across key metros in India over the next one year. Talking to Business Line, Mr Shreyas Joshi, President, Raymond Apparel Ltd, said that by April the first store would come up in Mumbai and subsequently in other metros and up coming mini-metros. The stores will offer a playful ambience for children. "The stores would be taken on lease basis. Fabrics would be sourced from our facilities as well as from our dedicated vendors. Designing would be undertaken by our in-house design studio," Mr Joshi said. The brand is targeted at the age group between four to 12 years. The Zapp! stores will be large format stores of 3,000-4,000-sq ft. size. The Indian readymade garment market is worth Rs 43,000 crore per annum and children's wear constitutes 17 per cent, which is Rs 7,310 crore. The organised segment is estimated to be of Rs 500 crore. With the increase in disposable income, this segment is slated to grow rapidly. Raymond, with its retailing expertise, experienced professionals and designers, wants to leverage the skill onto the children's apparel segment. Its entry into this segment is part of its overall strategy to be present across all key segments in the apparel business.
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