Gautam Singhania-led textile major Raymond has shut down its premium brand offering, Be:Home, within two years of its launch.
All four multi-speciality Be:Home stores in Mumbai and Delhi have been shut down, a company spokes-person said, refusing to comment on the reason for the move.
“In line with our ongoing and continuous strategic evaluation of our brand portfolio to serve customers better, we withdrew the Be:Home brand from the market. This was a part of a our brand rationalisation and consolidation,” the spokesperson told PTI here today.
At the time of its launch, the company was targeting a turnover of around Rs 75 crore in three years. It is, however, understood that the company is mulling a re-launch.
Interestingly, Be:Home itself was a re-launch when it was announced in 2008. The brand traces its origins to Raymond Chairman and Managing Director Gautam Singhania's pet project to offer collections of premium fashion designers in large volumes at lower prices.
Originally launched as Be: in 2001, the brand was discontinued in 2007 with a view to repositioning it. A year later, it was re-launched as Be:Home with the intent of offering soft furnishings and accessories sourced from across the globe.
The home furnishings segment is a crowded one, having a players like the Future Group, Shoppers Stop and Bombay Dyeing, among others.
