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Apparel maker and textile brand, Raymond, is likely to offer suiting solutions to women by the end of this fiscal. The move will help the company take advantage of the market potential for executive wear among women.
Mr Ram Bhatnagar, Vice- President – Emerging Business, Raymond, told Business Line : “We are expecting to offer suiting solutions for women in another six months. The company is currently carrying out necessary research in this regard.”
Pointing out to the current market trends, Mr Bhatnagar added that scope of having suiting solutions for women executives in the country is still in its nascent stages. Availability of trained tailors and special fabrics designed to cater to women's suiting solution needs are the focus areas for the company.
“At present we are looking at opportunities to train tailors specifically for offering suiting solutions to women. The plan to train tailors will start in a month or so,” Mr Bhatnagar said.
He, however, refused to divulge details of the amount that the company planned to invest in doing so. This incidentally is not the first time that the company is planning to offer suiting solutions for women. In 2007 too, the company had also mulled such an option. However, nothing came of it then, company sources said.
Mr Aniruddha Deshmukh, President, Raymond Textiles, said, “We are exploring opportunities in different areas. Offering suiting solutions to women is just one of these areas. However, it is too early to predict the timeline as to when it will materialise.”
Raymond, primarily known for its menswear and worsted suiting, has a womenswear section under its “Park Avenue” brand. It currently has a majority market share of 60 per cent in the polyester wool fabric market and 50 per cent in the worsted suiting segment. It currently has over 600 Raymond shops.
Economy Brand Launch
The company has launched its first ever economy segment clothing “Makers” in West Bengal. Subsequently, the brand will be launched in the eastern region including Uttar Pradesh (east).
“Makers” will compete with other brands such as Vimal, Grasim, Siyaram or Donear in the economy segment and will be available through multi brand stores only.
“Depending on the response we will explore options of having standalone stores,” Mr Deshmukh said adding that the “Makers” brand will not be displayed at Raymond stores.
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