Raymond to buy foreign women's wear brand

Raymond Ltd, one of the leading textile and apparel companies in the country, is keenly considering acquiring an international brand for its women's wear segment. The premier textile outfit now markets designer unisex clothing under the 'Be' brand.

Raymond is currently planning a foray into formal wear - exclusively for women, in the way Madura Garments did a few years ago under the Allan Solly brand. The Singhania group flagship is looking for an international brand exclusively for women's wear to alter its image of a predominantly men's wear company.

In a bid to become a full wardrobe brand, after women's wear, Raymonds may even enter the kids wear space.

The company at present has textile and apparel brands like Raymond, Park Avenue, Parx, Manzoni, Be and Colour Plus.

SL Pokharna, vice-president (marketing), Raymond's textile division, told Business Standard, "We shall launch the formal women's wear next year. Initially, it could be under the 'Be' brand like our unisex designer ranges. But later on we could buy an international brand for marketing in India. We are looking for international brand because there is no prominent women apparent brand that we could buy."

Pokharna was in Kolkata on today for the opening of 13th Raymond store in near Shambajar, the first in northern part of the metro. He said Raymond is considered a men's wear company, but now it wants to change that perception. "We are also contemplating to enter kids wear segment. But not yet finalised when it will be done," he added.

Commenting on the expansion of retail outlets, Pokharna said in the next 2-3 years, it would add 30-40 outlets all over India. It is planning 12 more outlets in West Bengal by 2007 March. "We want to be close to the customers. So the retail expansion is on in full swing," he said.

Raymond currently has 300 retail outlets in the country.

According to Pokharna, the textile division of Raymond is hoping to achieve 18 per cent growth in 2005-06. The textile division had posted Rs 745 crore from textile division in 2004-05 and hoping to touch Rs 900 crore in 2005-06.