Raymond & Grotto S.P.A bring lifestyle brand 'GAS' for Indian youth
11 Nov '06
3 min read
Raymond Ltd, India's leading textile and apparel major, added a new dimension to fashion in India, with the announcement of a 50:50 joint venture with Grotto S.p.A, one of the most important Italian fashion companies.
The joint venture will launch the highly successful 'GAS' brand in India.
'GAS' will retail a total look, lifestyle collection that features its core business in premium denim clothing offering Indian consumers an incredible fusion of the latest international fashion, quality clothing and an exciting experience in the universe of GAS value and values: passion, positive thinking, sensuality and essentiality.
With a total investment of approximately Rs. 500 million, this joint venture will bring together Grotto S.p.A's proven expertise in design and managing a successful brand and Raymond Ltd's expertise in apparel brand building and retailing and its vast distribution network to give Indian consumers a new fashion experience.
The changing demographic landscape of the Indian population is fuelling the growth in demand for international fashion brands. The market for jeanswear in India is estimated at 90 mn pairs per annum of which 30 percent has been captured by the branded segment.
This 50:50 joint venture company will characterize a distinct identity in the youth fashion casual apparel category in India. Targeted at high purchasing power, fashion-intelligent consumers, men and women, who look for great quality and style with which they can express their own personality.
marketing@alchempro.com
