The 81 year old, Gautam Singhania owned, Rs. 1320 crore, textiles major, Raymond, which is one of the best advertised textile brands in the country and which provides complete wardrobe solutions for the Indian male, has firmed up plans to augment retail presence of its men’s wear apparel brands under all categories, during fiscal 2007.
Park Avenue, the 20 years old, highest selling premium, men’s formal wear brand, which launched a 5,000 sq ft flagship store in Pune on Friday, plans to have exclusive stores in every metro and emerging metro by March, 2007. During the period, Park Avenue will increase its tally of Exclusive stores from 13 to 25, six of which will be flagship stores. Every Park Avenue Flagship Exclusive will occupy retail space of 4,000 sq ft or more. The biggest Park Avenue Flagship, incidentally, measures 10,000 sq. ft.
Manzoni, the top end men’s luxury wear brand of Raymond, which already has one store each in Mumbai and Delhi, will have five stores by March, 2007. The brand will add three new stores, one each in Kolkata, Bangalore, and Delhi.
Parx, another of Raymond’s brands, launched seven years ago as a premium casual wear brand in 1999, will add seven stores to its present tally of five stores, during the period.
ColourPlus, the high end casual wear brand, acquired by Raymond four year ago in 2002, which believes in “breaking the rules and do the unexpected,” has plans to add 10 stores and thereby take its present count of 45 stores to 55 stores, during the same period.
Zapps, the kids brand from Raymond stable, which launched its first store this year in Ahmedabad, will add a whopping eight more stores to its existing two, thereby, taking the total number of stores to 10.
The company’s apparel business, which currently accounts for 30% of the total, is growing at 30% per annum.