News Flash

Menswear leader Raymond Apparel bullish in domestic markets – international foray planned

16 May '05

2 min read

the rs 250 crore turnover (2004-5) turnover company raymond apparel ltd (ral) has announced plans that will give it a competitive edge in the international and domestic menswear markets.

the company – a wholly owned subsidiary of raymond ltd, has targeted the branded rs 5,000 crore domestic menswear market.

as for its international ops, west asia will be the groundbreaking target.
president of raymond ltd, shreyas joshi informed media sources that the company has embarked on an ambitious plan to exploit the menswear market by strengthening its market presence enhancing market share through a mixture of capacity expansion and retail entry.

the company has budgeted rs 30 crore for capacity expansion this fiscal, joshi informed.

several smaller garment-manufacturing units are being set up by the company in bangalore this fiscal to augment the company's output.

on cards is the expansion of ral 's retail network with plans to open 25-30 exclusive stores for its three brands - park avenue, parx and manzoni in the next couple of years incurring rs 12 crores in investment.

joshi added that the company plans to open exclusive stores as they provide brand focus and a better shopping experience for the customers even as its first exclusive store for park avenue in north india at delhi was inaugurated on saturday, last.

ral's three brands include park avenue - a formal wear range; parx - a casual wear range and manzoni - the super premium end of the menswear market. raymond brands compete with louis phillipe, van heusen and arrow compete with park avenue and allen solly, indian terrain with parx. the market may witness competitions like never before when several international brands like uk's savile row enter and get a toehold against established indian brands.

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