Woolen and worsted textiles developer Raymond has set up a new strategic team based out of Bangalore to foray into kidswear, jeanswear and womenswear segments of the branded apparel industry.
The team that is seeking newer business opportunities is headed by Vineet Nair, designated as Director of Raymond Apparel Ltd, the third largest branded player in the domestic apparel market. Mr Nair joined the company from Indus-League Clothing Ltd.
When contacted, Mr Nair stated that the company was likely to unveil new developments in the branded apparel space within one or two months. He declined to comment further. The Mumbai-headquatered Raymond's branded business, operating in the premium-end, is skewed towards menswear with brands such as Park Avenue, Parx, Manzoni and ColorPlus.
The company stated that it was working on a combination of start-up and international licensed brands to tap the new segments. In kidswear, it is still a toss up between an international licensing arrangement and the development of own brand. It must be mentioned that the company has had protracted talks to acquire domestic kidswear brand Gini & Jony, which was called off sometime back.
However, it is clear the company's entry into jeanswear segment would be powered by an European denim brand through a licensing route. The domestic jeanswear market has remained hot for at least two years and shows no signs of cooling off in the near future given the country's vastpool of youth.
marketing@alchempro.com
