RAYMOND RAY MOND (READY (REA DY TO WEAR- SUITS)
PRODUCT
Raymond a name that has over eight decades set a perfect example of consumer's trust into its offerings, and into the company's determined faith in the quality of its product. And now these values have been extended to the range of readymade garments - 'Raymond Ready-To-ear !uiting"s and !hirting"s. Raymo Raymond nd #Ready #Ready-T -To o- -eear$ is a premium premium forma formall wear wear brand which is positioned to offer classic garments with perfect fit and inviting inviting styles to the %lobal %lobal &ndian. The brand reflects the persona of a confident, classy, classy, discerning, and an intelligent man. The brand targets the person who is well educated, well traveled and above all is sensitive and caring. irtues li(e these ma(e him the complete man in true sense of the word and this brand Raymond ready to wear suits is therefore meant for the elegant and )classic-man'. The !uits, offered by the brand are made out of finest fabrics with superior precision precision and and sophisticated embellishments that give a rich feel and super fit. fit. !uperior craftsmanship craftsmanship
attention to to detail ma(es ma(es the
product a pleasure to wear. wear. The strategy of Raymond is to sell the brand through multi-brand outlets #*+s$ which is where the typical tier and tier customer shops Raymond ready to wear address a higher age group 'Ta(ing advantage of its strong distribution networ( #/01 Raymond stores and/2,111 points of retail$, Raymond will ensure its new readymade brand reaches consumers.' Raymond !uits offers various bunch of benefits to its consumers such as • •
+unch of Tangible benefits- 3uality 4abric, 4itting, ariety, !tylish, and Reliable. +unch of &ntangible benefits- 5onfidence, 5omfort, +rand trust, 5lassic feel, !afe.
PRICE-
Among the brands Raymond Ready to wear sales contributed about /0 per cent of total sales as of 6ecember
1/7.
*ade-to-measure services
are
premium offerings where a customer wal(s into a showroom, chooses a pre-measured fabric and has his measurements ta(en. The company customi8es the offerings so that it has a 9factories finish and feel: according to the customers' requirements. Tailoring for
such
pieces
is
done
at
the
company's
+angalore;*umbai unit. 5urrently, the company focuses on office areas in *umbai. !ervices might be extended to areas dominated by large housing societies. 6elivery time would vary between /1 to /7 days < at par with its retail store delivery timings. *ade-to-measure shirts are priced around Rs. /,=11 a piece while trousers are ranged Rs. ,711 onwards. !uits are priced Rs. 1,111 onwards.. The price of the product is different at each level of distribution. The distributors sell goods to different wholesalers at the price at which he gets minimum /7> to 1> profit. !imilarly wholesaler earns /1> to /7> profit by selling goods to retailer. And the retailer earns 7> to /1> profit on each product. The consumers does not get any profit on product , but the consumers are being offered with various offers such as 6iscounts, various festivals offer, buy one and get one free offers, gift on monthly purchases.
PLACE-
Raymond"s fabrics and apparels are sold through an array of distribution networ( employed by the company .&t consists of a mix of distributors, wholesalers, retail touch-points, The Raymond !hop outlets and ?+#?xclusive +rand outlet$. wing to its superior brand equity and brand recall status, the brand is stoc(ed and available in around /=,111 retail touch points spanning from metro, tier-/, tier-, tier-, tier-@ and tier-7 towns. S trong distribution is a prerequisite for any consumer-led model and Raymond has created strong entry
barriers for competitors in this regard. &t has an enviable distribution setup that is a blend of wholesalers, distributors, *+ touch points, ?+s and its own famous store brand, The Raymond !hop. The brand is present in more than @11 towns across class-/ to class-7 towns and cities, is retailed through over /=,111 touch points including exclusive Raymond brands available in 02 retail stores #2/ The Raymond !hop outlets and /71 ?+s$, covering over /.7 million square feet of retail space. !ince Raymond enoys strong brand equity and recall, it has franchisees operating even out of tier-, tier-@ and tier-7 cities.
PROMOTION-
!itting pretty on top of the Rs /,211 crore worsted textiles mar(et with 21> share, Raymond always had an imagery of being premium. Today there are other brands li(e Reid B Taylor and !iyaram in the space, but Raymond still commands a lion's share. The premium positioning also ma(es it inspirational, which is why Raymond has a wide variety of products across price points. 4rom common man to the rich one, Raymond has a suit for all men.
Raymond ads are mostly focused for upper middle class. +ut despite its premium imagery Raymond has patrons across all social economic strata. Ce have always ta(en care to not showcase Raymond as an elitist brand. ?motions and relations are the same across people and that is why the ads connect well,C The intent to cut across is also the reason why Ra ymond ads have never used a celebrity. Di(e virtually every brand today, Raymond is also present on 4aceboo(,, &nstagram and other social platforms and uses the platform to connect with its customers. The E/-year-old brand does this by either putting up regular styling tips on its page or activities li(e the recently concluded model hunt. To promote its ads, Raymond tripled its television advertising budget. &t also too( sponsorship for the biggest properties such as &ndian Fremier Deague and orld 5up. The company is also aggressively pushing its loyalty programmed Raymond Rewards, which now has over two million members.
Raymond is now available online on Ama8on, Gabong and *yntra to get access to mar(ets that shop online. Dast year in ctober, it also launched its online store, RaymondHext.com, which integrates all the Raymond products under one ecommerce platform.