Raymond India is looking to capture 15 per cent of the Rs 6000 crore lower segment textile market by the end of March 2013 with the launch of ‘Makers’ its new brand targeting the tier-II and tier-III cities.
“We have witnessed the maximum growth in this segment over the past few years and while Raymond did sell some products in this price range, we felt it would be worthwhile to launch a dedicated product in the Rs 250-400 metre category,” said Aniruddha Deshmukh, president-textiles, Raymond.
The textile market in India is pegged at Rs 50,000 crore, of which about Rs 6,000 crore belongs to the lower price range market. He said the company had launched 'Makers', a ready-to-stitch brand targeting the economy section of the population.
“Over 75 per cent of the Makers brand will be sold out of smaller towns and cities at multi-brand stores. While it will keep the aspirational Raymond tag, it will ensure the growth at the bottom of the buying chain,” Deshmukh said.
This would also then mean that the brand will not be sold at the group’s flagship retail outlet-The Raymond Shop which houses other brands from the stable including apparel brands like Park Avenue, Parx and Colorplus.
