Park Avenue enters premium women's wear market

New Delhi, Sept 8 (UNI) Eyeing Rs 450 crore in the 'premium' women's western wear market, country's leading menswear brand Park Avenue today forayed in the women's wear segment with the launch of 'Park Avenue Woman'.

''With the burgeoning growth in the number of 'Corporate Woman', the western formal wear segment has huge potential and is a natural fit into our overall growth strategy,'' Raymond Ltd Chairman and Managing Director Gautam Hari Singhania said.

The first 'Park Avenue Woman' line was rolled out in Mumbai.

'Park Avenue Woman' will be retailed through exclusive stores, MBOs, and large format stores.

As part of phase I of the roll-out spread over the next one year, Raymond will open three exclusive 'Park Avenue Woman' stores, Mr Singhania said.

The women's western wear market in India is estimated at Rs 2,700 crore, growing at over 20 per cent annually.

UNI