Raymond Apparel, a fully owned subsidiary of Raymond, will launch a Color Plus sub-brand to build up its repertoire of premium smart-casuals for kids. This will be the first instance of a brand moving into the hitherto untouched category of ‘premium smart-casuals’ in kidswear.
“Pegged at Rs 3,000 crore, the kidswear category is growing at 20 per cent. Raymond will tap its share through premium kidswear,” said Vineesh Chadha, CEO, Color Plus Fashion.
Raymond acquired Colour Plus brand in 2003, and betting on its premium positioning, will create its sub-brand for kidswear. The company plans to manufacture the new range at it own manufacturing facilities based in Chennai.
The branded kidswear maket is primarily dominated by domestic labels like Lilliput, Gini & Jony and Raymond’s own brand Zapp. However, none of these can actually be categorised as premium labels.
In the next two years the company plans to add 20-25 standalone stores for ColorPlus, and in order to bring in innovation and new product offerings, Raymond will be drawing insights from its design studio in Italy. Raymond has been progressively increasing the franchise of Color Plus brand with more outlets and line extensions (women’s westernwear being the latest).
Color Plus is expected to grow at 30 per cent this fiscal, with a sales turnover of about Rs 250 crore.
– Bengaluru Bureau