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Having pulled out its super premium brand of Manzoni, the Rs 1,000-crore Raymond Apparel is expected to bring it under the Raymond Premium Apparel (RPA) brand with higher price points pegged above Rs 7,000.
Speaking to Business Line , Mr Shreyas Joshi, President, Raymond Apparel, said, “While we are phasing out Manzoni, we would be offering the same range and pricing within Raymond Premium Apparel. The super premium segment is small and niche and this part will now be included within the ready-to-wear range under RPA.'' Having extended its textile brand to readymades in 2007, Raymond Premium Apparel is still the smallest segment within Raymond's apparel portfolio which includes Park Avenue, Parx and Color Plus.
Price
Currently RPA sports shirts, trousers, suits and jackets are pegged above Rs 1,400 (the price of a shirt). However, now with the Manzoni price points and range being merged with it, the prices would be raised above Rs 7,000 (the price of a shirt). “The Raymond Premium Apparel will now sport a small part of the Manzoni range as well. We decided to merge it to enhance the image of the brand at the top end with offerings which will be equivalent to the Manzoni brand, '' said Mr Joshi. In fact, Raymond has been trying to stay away from the mass segment and has been rationalising its apparel brands such as Notting Hill. “We have turned Notting Hill into a private brand which will be sold only at the Raymond stores, '' said Mr Joshi. Besides, it has also decided to stay away from the women's and kid's segments with only Park Avenue sporting a women's line.
The Rs 500-crore Park Avenue recently got a new logo and continues to be the largest men's apparel brand for the textile major. The Rs 250-crore Color Plus is its second largest, also focusing on the men's segment, and recently exited the womenswear category. Also, Parx and Raymond Premium Apparel continue to be men-centric.
“Today we are focusing on four main brands under apparel in the men's category and would like to make them lifestyle brands,'' added Mr Joshi.
Analysts claim that Raymond's forte has always been menswear and it has burnt its fingers by venturing into the kids' and womanswear categories.
New joint ventures
The textile major is also staying away from forging new joint ventures or acquiring new brands.
“Today our biggest strength is our exclusive brand outlets and we will continue to focus on Park Avenue, Color Plus, RPA and Parx, added Mr Joshi.
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