- Meenakshi Kumar |
Raymond is looking at a full wardrobe opportunity through expansion into fashion accessories, footwear and any other relevant categories possible. The company is investing heavily in the branded apparel business and is looking at a four-brand portfolio to draw it well beyond the market average. It is known for brands like Raymond, Park Avenue, Color Plus and Parx.
The company remains positive as far as growth opportunities are concerned. Given the fact that it has a very strong portfolio which is strongly rooted in the minds of the Indian consumer, plus the fact that it is making several breakthrough changes and initiatives inside the organisation, it is confident of registering growth well ahead of market levels and delivering double digit growth in the branded apparel business.
The plan is to open 30 to 40 exclusive brand outlets in the coming year. A formal wear brand like Raymond will also expand into informal clothes and present a full wardrobe opportunity.
Expansion plans include exclusive brand outlets, multi-brand outlets and online channels as well. Raymond already has a presence in international markets by virtue of being a manufacturer as well an exporter. It’s looking at retail expansion in the Middle East, London and the US market.