Men’s apparel manufacturing and retailing brand Raymond has opened a specialty store of ties and other men accessories at newly developed Galleria section in Phoenix mall in Mumbai. Executing on the consumer’s response, the company plans to roll out the format in different cities across the country through franchisee route, according to a company official.
Commenting on the development, Shreyas Joshi, president, Raymond Apparel, said, “Right now everything is in a drawing board stage. We are test marketing with only one store of 250-300 square feet in size. If this becomes successful in six months, we will move on with new stores.”
The store has products of in house brands such as Raymond, Park Avenue, Parx and Manzoni. “We felt that there is a distinct demand for this kind of store. People just don’t go to shopping to buy a tie or a belt. They buy other things and if they like, they pick up accessories. We want to tap that impulsive spirit with a specialty store,” added Joshi.
The products range is priced between Rs 250 and Rs 2,000. Hence, the company plans to open this format in metros only. “We are not looking at tier-II cities right now. The expansion will only be through the franchisee route,” added Joshi.
Meanwhile, this is the second specialty retail format being launched by Raymond. In May last year, the company launched Be Home, a specialty multi-brand home accessories store.
— IndiaRetailing Bureau