Raymonds Apparel launches new product,looks for higher growth

Kolkata, Apr 10 (UNI) Raymond Apparel Limited, today launched its latest brand in the popular segment called 'Notting Hill' for the eastern region and aimes to capture about 25 per cent all India market share by 2010.

Announcing this here today, Mr Shreyas Joshi, President, Raymond Apparel Limited, a wholly owned subsidiary of the Rs 2,000 crore Raymonds Limited, said of the Rs 88,000 crores combined apparel market in the country, which was growing by a whopping 20 per cent per annum, the share of popular segment was to the tune of Rs 5361 crores.

Since this segment, comprising both casual and formal mens wear, was also growing by over 20 per cent per annum both at the national and regional level, Raymonds Apparel had decided to make forays into the segment though a new brand and introduced the Notting Hill. Among the products to be sold under this brand name were shirts, trousers, ties and various accesories for men.

Elaborating the marketing strageties of Raymond Apparel which also sale premium and high quality products besides kids wear under different brandnames like Manzoni, Park Avenue, Color Plus and Zapp, Mr Joshi said with a view to popularising their products they planned to set up about 600 new Raymond outlets across the country by 2010 to take their total number to around 950 from about 350 now.

Since most of these multi-brand outlets would be set up under franchise system the amount of investment of Raymonds would not be substantial, Mr Joshi confirmed.

Asked about the projected overall growth of the company whose turnover crossed Rs 400 crores mark last year, Mr Joshi said they were looking for 15 to 20 per cent growth in sales during the current fiscal.

To a query about his export plans, Mr Joshi said though they had acquired an Italian designing company in Naples, the Raymond Apparel had no plan to step into the global market in near future.

" Presently we are focussing entirely into the burgeoing domestic market which was likely to cross the Rs 90,000 crtores mark by this year end," he said replying to another query.

UNI