Raymond has a presence across 500 cities with over 900 stores and the strategy is to open 100 more stores by the end of this year. Read on...
When it comes to the men clothing line, nothing pops up in mind, other than Raymond. The tagline which says, ‘The Complete Man’, has been offering complete solutions to men’s wardrobe for over 9 decades and is still going strong.
Known as one of the leading premium retailers in India, Raymond has secured its position in the Top Franchise 100 Brands List for its decades-long dedication to celebrate men’s clothing from fabric to readymade apparels to custom tailoring.
Raymond has added over 200 new stores in the last 19 months, other than this the brand has a presence across 500 cities with over 900 stores and the strategy is to open 100 more stores by the end of this year.
Recently Raymond introduced the new format stores, Mini-TRS, which is the replica of the heritage of The Raymond Shop (TRS), in a move to tap the emerging towns with an agile business model wherein stores are set up within 45 days. Raymond is moving ahead with the aim to tap tier 3, 4 and 5 cities of India.
Mohit Dhanjal, Director Retail, Raymond Limited, says, “Our ambition is to bring alive the Raymond brand-immersive experience across all towns of India through our rallying cry #HarSheharMeinRaymond. This is integral to India’s growth story.
The team took the challenge of opening 300 stores in two years while our past annual average was only 25 stores. The team worked round the clock & turned that challenge into the positive opportunity through relentless passion & grit.”
Dhinjal adds, “An early realization of creating partnerships with entrepreneurs has helped Raymond in the rollout of a strong franchise network across emerging markets with building marquee brand presence in these towns. We believe that this focus on potential emerging markets, strong partnership, early mover advantage, stringent product quality parameters, and customer-centric approach will take it to newer heights.
The key to the company’s successful yet fastest roll-out of stores is in its Agile Business Model which takes into account the consumer nuisances & market dynamics. As early as in 2008 the company realized the importance of emerging markets beyond Tier I. Between 2009-14 the company gradually expanded its retail presence to cover all Tier II & III markets. For the next level of retail expansion, Raymond felt a need to evolve & develop a new retail business model with the right consumer proposition for the emerging Tier IV & V towns.”
Year of establishment: 1925
Year of initiating franchising: 1957
Total number of stores: 900
The investment required: Rs 50 Lakhs onwards
Area: 600 sq feet onwards
Preferred cities and locations: pan-India
The Franchising World, India’s no.1 franchising magazine, identifies the TOP 100 franchise brands and celebrates their achievements every year in its anniversary issue. The issue highlights the established Indian and big global brands that are increasing their positioning in India along with the new-age brands that are lucrative and profitable; expanding fast, and can act as a reference guide for budding entrepreneurs and investors across India.
Franchise Top 100 is the one-stop destination to know everything about the franchise industry, which establishes authority and strength to evaluate the growth of the franchise industry.
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