The Hindu Business Line : Raymond to enter readymade garments

The worsted fabric brand of Raymond is entering the readymade segment under the sub-brand of Raymond Finely Crafted Garments. Pegged at a slight premium to its existing men’s readymade brand of Park Avenue, Raymond is targeting males in the 25-45 age group and who are already using its fabric brand.

At a press conference, Mr Gautam Hari Singhania, Chairman & Managing Director, Raymond Ltd, said, “Today, we are being allowed to manufacture readymade garments as the reservation has been removed in the small scale sector”.

Distribution network

With plans of having 30 exclusive shops under the brand of Raymond Finely Crafted Garments in the next three years, the textile and apparel major would also use its existing distribution network spanning 170 Raymond shops and 16,000 points of retail to vend the new brand.

Segmenting brands

According to Mr Shreyas Joshi, President, Raymond Apparel, the menswear market is estimated at Rs 37,000 crore and comprises 35 per cent of the apparel segment. “With Raymond Finely Crafted Garments we are targeting the ‘complete man who has an eye for detail and has arrived in life’. We are segmenting our brands according to age groups.”

Sporting a range of suits (Rs 8,000 to Rs 20,000), shirts (Rs 1,400 to Rs 2,000) and trousers (Rs 1,200 to Rs 3,200), Raymond Finely Crafted Garments will initially be available at 125 points of sale in its first year of operations. Not having set specific targets for the new brand, the company will see how the market responds to its newly launched brand before it makes any projections.

Conservative targets

Added Mr Singhania, “We will see how the market reacts to Raymond Finely Crafted Garments and our targets are going to be conservative for the brand”. A new campaign created by its ad agency RK Swamy BBDO is on the anvil.

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