Textile and apparel major Raymond has reportedly rebranded its bed and bath range of home furnishing products — launched back in 2013 — as Raymond Home.
Raymond has already launched a print advertising campaign to promote the new brand. It now plans to open 28 exclusive brand outlets (EBOs) at select cities this year to expand reach.
“With sales of Rs 70 crore in FY15, the company is targeting Rs 100 crore in FY16 and Rs 300 crore by FY18.” Pankaj Saxena, deputy general manager (sales), Raymond was quoted as saying.
The company is targeting four different business modules for placement of the home furnishing range. It wants to be present in the large format stores with shop-in-shop concept in major metros and tier II towns and opening of franchisee exclusive brand outlets and exclusive dealers all over the country.
The company will also promote the home range through the 88-plus The Raymond Store (TRS) outlets across the country.
Raymond is also testing waters through e-commerce platforms like Jabong, Flipkart among others. It expects about 20 per cent of its annual sales to come from the e-commerce platforms in the current fiscal.
Total consolidated income from operations during the quarter under review was up 13.86 per cent at Rs 1,239.85 crore as against Rs 1,088.88 crore in the same period of the last fiscal
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