Raymond launches Makers in the economy segment

Raymond Apparel, is now trying to shake of its image as

suit manufacturer for the premium segment. It recently entered the organized sub-premium textile market with its economy brand called ‘Makers’. According to Ram Bhatnagar Raymond VP(emerging businesses), the new brand will be launched soon in West Bengal after which other launches in the eastern region including Uttar Pradesh will follow. He says there is a major shift from the unorganized to the organized sector, especially in the economy segment across the smaller towns, which they wanted to tap. With Makers, they are looking at over 10 per cent market share in the economy segment pan-India.

The domestic textiles market is pegged at Rs 50,000 crores, of which 75 per cent belongs to the unorganized sector. The suiting/shirting segment alone accounts for about Rs 12,000 crores at present, of which organized space is only around Rs 4,000 crores. Depending on response, the Makers brand will have its own standalone stores and will not be showcased at Raymond stores as it is meant for a different target consumer group. It will compete with others brands such as Vimal, Grasim, Siyaram or Donear in the economy segment and will be available through multi brand stores only for the time being.

The company which has created its name and fame through its premium Raymond and Park Avenue brand of FABRICS, men’s suits and jackets, is now hoping to cash in on the economy segment with the ‘Makers’ brand with its extremely affordable price tag.