Park Avenue, one of India's leading men's formal apparel and accessories brand has announced the launch of its new logo that typifies a young, contemporary and global appeal. The mnemonic, to feature on the brand's apparel range symbolizes a leader with a vision for sustained growth and innovation, built on the strong premise of values like quality and trust.
Speaking at the launch event, Mr Gautam Singhania, Chairman and Managing Director of Raymond Limited stated, “The new logo and the mnemonic are a derivative of the brand's ethos of creating and celebrating the young Indian male, who exudes confidence and is a natural leader. Park Avenue has believed in a holistic approach to achieving this look in its customers by providing them the entire range of business clothing and accessories, in addition to personal care products.
Eye wear is another significant category amongst accessories that impacts the look of a person. With the launch of our range of eye wear today, the style quotient of the Park Avenue man is almost complete. Park Avenue eye wear aims to capitalize on minimal participation by players in the category in the mid-price segment. This is especially attractive for this category because Park Avenue eye wear is a stylish polarized range, unlike its peers.”
Eyewear from an apparel brand is another innovation to the credit of Park Avenue, the first time in India. Along with this eye wear range and the new logo, Park Avenue also announced today its foray into business casual wear.
Mr Shreyas Joshi, President, Raymond Apparel Limited said, “Given the increasing number of new age professionals in India and the growing preference for easy dressing in the workspace, Park Avenue has added to its business wear range a chain of relaxed clothing through the “Dress Casuals” range. While the colours are a lot bolder - with yellows, orange, khakis, to purples, aqua, blue and green – the finish is washed and the fits and cuts are contemporary and stylish, giving it a young feel.
This new range marks the beginning of Park Avenue's entry into a new consumer segment and a dressing category for the Indian male – business casuals. We are excited about contributing to the wardrobe of fashion-conscious consumers.
We have also launched a Park Avenue limited edition collection for customers of our exclusive business outlets (EBOs), to encourage buying from these outlets that provide the customer an opportunity to experience the promise of confidence that the brand assures its customers.”
With its plans, Park Avenue aims to grow at a rate of 30% year on year, which is significantly higher than the industry average of 15-20%. Similarly, on the distribution network, the brand plans to double its EBOs the coming year.
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