Raymond Ltd has firmed up plans to launch about 100 exclusive stores in the next two years under the 'Be:' brandname to tap the designerware segment in the readymade apparel market.
The company today also announced its foray into the womenswear segment with the launch of these exclusive outlets.
The eight Indian designers whom the company has brought under its umbrella include Ashish Soni, Raghavendra Rathore, Aparna Suneja, Arjun Khanna, Manju and Bobby Grover, Puja Nayyar, Priyadarshini Rao and Rajesh Pratap Singh.
Each of the designers will have their own exclusive pret-a-porter (ready to wear) lines under the 'Be:' label.
"With the launch of 'Be:', Raymond enters into a new, unexplored market and also makes a foray into women's wear. We have been intending to enter this category and the launch of our pret collection provides us with a perfect platform to do the same," Raymond chairman and managing director Gautam Hari Singhania told newspersons here.
After establishing itself in the niche market, the company plans to expand abroad.
Singhania said that the new line will be sold via exclusive retail outlets. In the first phase of expansion, about six outlets would be company owned and will be launched in Delhi, Mumbai and other major metros.
"The actual growth will, however, come through the franchisee route," he said.
Ambience has been appointed as the advertising agency for the designerware segment.
Singhania said that the company, at present, has about 10 per cent market share in the Rs 2000 crore readymade apparel market with its Raymonds and Park Avenue outlets.
Terming the 'Be:' launch as a unique initiative by a major corporate house to corporatise designerwear in India, he said the clothes available at these outlets will be "affordable" and will be priced between Rs 800-7,000.
At a later stage, the company plans to sell accessories like designer bags and scarves with fashion jewellery under the new brand.
