Colorplus, the premium menswear brand acquired by Raymond in 2002, will soon roll out an exclusive womenswear range for the Indian market. Positioned at the premium end, the womenswear range will not only have dresses for youngsters, but also for fashion-savvy elders, sources told Indiaretailing.
When enquired about the buzz, an official from Colorplus commented: “I am not declining it. We are working aggressively to launch a premium range of womenswear in the market. We anticipate the launch to happen by this September or October. It will be a complete mix of formal and casual wardrobe solutions.”
“In a bid to make it a one-stop shop for the entire family, the company is also keenly looking at launching an exclusive kidswear range under Colorplus brand,” sources added. The official declined to give out details, saying, “There are many plans on the anvil and we do not want to break these at this point of time. We will post you as and when it happens.”
It is learnt that the company is working on similar extension strategies for its other brands as well. Raymond’s BE: brand is reportedly being phased out. Volumes and profit growth across its 13 stores nationwide have not set the racks on fire despite its USP of premium designerwear at affordable prices.
Raymond is also focusing on entering the high-volume, Rs 6,000-crore worth popular segment with its Notting Hill brand. A hundred exclusive retail outlets are expected to be launched across India by March 2009. The first outlet will be opened next month in New Delhi.
“Our first exclusive outlet for Notting Hill will be opened in New Delhi next month, and we are planning to open 10 such outlets in the NCR region by the end of the current fiscal,” informed Shreyas Joshi, president, Raymond Apparel.
The company expects a turnover of Rs 25 crore from Notting Hill in the first year, after which it will revise its sales numbers. Notting Hill has been launched to primarily cater to the middle segment of the men’s apparel market in the country. Designed in-house, the Notting Hill range will comprise suits, shirts, trousers, jeans, t-shirts and accessories like ties and socks. It is primarily targeting the working men population in metros and semi-urban cities.
– Vishnu Rageev R, Bangalore Bureau