Interview with Mr Shreyas Joshi

Face2Face
Mr Shreyas Joshi
Mr Shreyas Joshi
President -Group Apparel
Raymond Ltd
Raymond Ltd

Let us know some recent Merchandising marvels in the industry which impress you the most-

A clear merchandising marvel for the industry came from the house of Raymond, when the company launched its “Made to Measure” offering in an exclusive retail format. This provides the customer factory-made, tailored clothing that match up to global industry standards, with the added benefit of impeccable service.

On the apparel side, when Park Avenue, the all-male clothesline launched PA Woman, it was an industry marvel, which is now being adopted by almost every other leading male clothing chain.

Managing multiple brands under one umbrella is a challenge. Please comment.

We treat every brand as an independent business managing their portfolio of customers, trade and partners. They operate as individual businesses with dedicated teams that manage the entire supply chain, from design to marketing and sales. This enables us to be true to the unique positioning of our every brand individually, thus helping them cater to their different consumer segments.

What would be the growth trajectory in the apparel industry in land and globally? Amongst Branded Apparel and Private Labels, which segment in India will have one up?

The apparel industry in India has been recording year-on-year growth of about 15-20%, while globally the growth is about 5%. Private labels are growing at about 5-10% annually in India.

Branded apparel business is definitely growing faster than private labels in India.

Raymond is targeting 4, 5 tier markets for its Retail spread. Where does branding go different in offering products to these consumers who are neither brand conscious nor hi-lifestyle savvy?

Our experience with consumers in small cities and towns has been very encouraging, given their knowledge of urban and global fashion trends and their aspiration to be ahead of times in dressing. Given technological and media-related advancements in a growing economy like India, lifestyles and dressing choices of tier 4 – 5 customers are at par with their urban counterparts. The difference in dressing aspirations between customers in different geographies has also considerably narrowed over the past year. Thus, Raymond adopts a national branding and marketing approach to take its product and service offerings to customers.

How successful catalogue retailing has been in India?

To my knowledge, catalogue retailing in India is yet to pick up. While our retail industry is evolving rapidly to match up to global standards, we are still consumers who would like to feel their products before purchase.

Also, shopping for most Indian families is bound into our social fabric as a means and occasion for bonding. This could be for festival or seasonal shopping or while shopping for special occasions, which account for a good part of the Indian retail business. Thus, even today, consumers in India prefer to visit the retail outlet to feel their product before buying, preferably with their entire family around!

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Published on: 21/02/2011

DISCLAIMER: All views and opinions expressed in this column are solely of the interviewee, and they do not reflect in any way the opinion of Fibre2Fashion.com.

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